Candlestick Patterns

Hikkake Bearish

The Hikkake Bearish is a bearish pattern represented by at least three candles. The first candle has a long green body. The second candle is totally engulfed by the previous one. Finally, the third candle slightly breaks the minimum of the first candle. The first candle is still increasing, probably coming from an uptrend. The second candle suggests the price might reverse since it decreases a bit. However, the third candle breaks the minimum of the pattern and very likely initiates a downtrend. This pattern has very strong bearish components. When it is spotted in a chart, the likelihood of the price heading downwards increases, therefore, this pattern is used to sell a position or open a short.

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