Bearish In Neck Pattern
BEARISH IN NECK PATTERN (BINP)
undeveloped Bullish Piercing Line pattern
1. There is a downtrend market;
2. Day 1 has a long black stick;
3. There is then a white stick on Day 2 with an opening price that is below the low of Day 1. Day 2’s closing price is barely above the closing price of Day 1.
The Bearish In Neck Pattern is an undeveloped version of the Bullish Piercing Line Pattern. But the close here is much lower. The white body on Day 2 closes near the close of the black Day 1.
This pattern is characterized by a white stick that has a closing price narrowly above the previous black stick’s low during a downtrend. If the white stick’s low is broken down, the downtrend will continue.
1. The white stick in the pattern must be small
2. Confirmation is required on Day 3 in the form in the form of a black stick, a gap down or a lower close.