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Bearish Advance Block
Bearish Advance Block
This pattern consists of three consecutive white candlesticks with consecutively higher closes in an uptrend.
How to identify
Three consecutive white days with higher closes each day.
Each day opens within the previous body.
Each day displays deterioration of the upward move as shown with the long upper shadows on the 2nd and 3rd days.
Psychology
This pattern is similar to the Bullish Three White Soldiers pattern.
However, the Bearish Advance Block chart alerts traders to the weakness of the upside price action since the close of the second and third days are significantly less than their highs.
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