Bearish Breakaway Pattern

three consecutive high price days that then fizzles

1. Market is on an uptrend;
2. Day 1 has a long white stick;
3. On Day 2, we then see a white stick with a gap above Day 1;
4. Day 3 and Day 4 continue in the direction of Day 2 and with higher consecutive closes; and
5. Day 5 has a long black stick with a closing price inside the gap caused by Days 1 and 2.

Brief Explanation:
The British Breakaway Pattern is composed of a gap in the direction of the uptrend that is then followed by three consecutive higher price days. The trend here suddenly speeds up with a big gap, but then it starts to fizzle. However, it still manages to move in the same direction. Though the uptrend continues, the trend suddenly weakens. Finally, there is a complete reversal of direction that completely recovers the price action of the three previous days. We can see this pattern during an uptrend scored by a bullish rush that eventually fades.

1. A confirmation is required on Day 6 in the form of a black stick, a large gap down or a lower close to ensure that there is a reversal.