Bearish engulfing near the highs
A bearish engulfing candle within 3% of the 52-week high — a rejection where it counts.
The same location argument as its bullish twin, inverted. An engulfing candle in the middle of a range is noise; one printed while the stock is testing its yearly high is a visible failure at a level plenty of people are watching.
More patterns:Bullish engulfing at supportHammer while oversoldShooting star after a runMorning starThree white soldiers
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