Candlestick Patterns

Modified Hikkake Bearish

The Modified Hikkake Bearish is a continuation bearish pattern represented by three candles. The first candle decreases and has a long body. The next one closes above the previous low and has a lower high. Finally, the third one decreases, has a long body and makes a new low. The second candle increases and looks like it can make a reversal, it is often called the trap. However, it can’t break the previous high and is totally engulfed by the first one. The last candle decreases again and makes a new low, which leads the way for further falls. Then, this pattern will generate a sell signal.

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