candle sticks

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Bearish breakaway

Candle Sticks

Candlesticks are graphical representations of price fluctuations for currency pairs.
Bearish breakaway

Definition

This four candlestick pattern starts with a strong white candlestick. The next three days after the upside gap set consecutively higher prices. However the last day completely erases the limited price gains of up days and closes inside the gap between the first and second days. This suggests a short term reversal.

Recognition Criteria

1. The color of the first strong white day represents the current uptrend. 2. The second day is also white and the body gaps in the direction of the trend. 3. The third and fourth days continue the trend direction. It is better if the third day is black but it may also be white as the fourth day. 4. The fifth day is a black one that closes inside the gap that is formed between the first two days.

Pattern Requirements and Flexibility

The first white candlestick of the Bearish Breakaway should not be short. However the following three white candlesticks after the gap can be short while the third candlestick in the middle can be black too. The last black day should close inside the gap but should not fill the gap.

Trader


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