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On Neck Bearish
Bearish continuation
Medium
During a downtrend, the first candle is a long black candle. The second is a white candle (not long) that opens below the low of the previous candle and closes at the low of the previous candle. The On Neck pattern is typical during a downtrend. The fact that a small rally is built by the second candle but ends at the low of the previous black candlestick indicates that the bears should prevail. It is similar to piercing pattern but bearish because there is no penetration of the second candle.
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