On Neck

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Figure 1. On Neck pattern.

Japanese name: atekubi
Forecast: bearish continuation
Trend prior to the pattern: downtrend
Opposite pattern: none

Construction:

• First candle
  • a candle in a downtrend
  • black body
  • appears on as a long line
• Second candle
  • white body
  • the opening price below the previous closing price
  • the closing price is equal to the previous low price

The On Neck is a two-line bearish continuation pattern. The first line is a candle having a black body, appearing as a long line. The second line is a candle with a white body, but its upper and lower shadows length cannot exceed more than twice the body length.

The closing price of the second candle is at the level of the first candle's low price.

The pattern appears in a downtrend and predicts its continuation. It should be confirmed on the following candles by a candle closing below the opening price of the second line.

Figure 2. An On Neck pattern is confirmed by a Black Candle. Pay attention that the bulls were close to canceling the On Neck occurrence, because they almost closed the gap between the first and the second line.

On Neck statistics

Below you can find some On Neck pattern statistics calculated by CandleScanner software. To see more detailed statistics, for other markets and periodicity try our CandleScanner software. Prices start at only $10, and you can see more detailed statistics, for other markets and periodicity. Click here to find out more!