Bearish Reversal Candlestick
The inverse is true with this type of formation in a bearish scenario, and the image above shows that price made the highest high before reversing and closing strongly lower off its highs.
Here's what a bearish candlestick is telling us:
Price made a new high, but buying pressure very quickly dried up as an increase of sellers entered the market resulting in the candle closing lower off its highs, signaling selling strength.
Strategy Provided by Price Action & Income by Richard Krugel
The inverse is true with this type of formation in a bearish scenario, and the image above shows that price made the highest high before reversing and closing strongly lower off its highs.
Here's what a bearish candlestick is telling us:
Price made a new high, but buying pressure very quickly dried up as an increase of sellers entered the market resulting in the candle closing lower off its highs, signaling selling strength.
Strategy Provided by Price Action & Income by Richard Krugel
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