ON NECK LINE
(ate kubi)
Description
The On Neck Line pattern is almost a 'meeting line pattern', but the critical term is 'almost'.
The ON Neck pattern does not reach the previous day's close; it
only reaches the previous
day's low.
Criteria
1.
A long black candle forms in a downtrend.
2.
The next day gaps down from the previous day's close; howver, the body is usally smaller
than one seen in the meeting line pattern.
3.
The second day closes at the low of the previous day.
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