K Line Teaching: Tower Top
Features:
(1) Composed of several K lines, usually appearing at high positions on the chart, the pattern can be divided into three parts.
(2) The first part consists of one or two long bullish candles that move upwards.
(3) The second part consists of several short K lines (bullish or bearish), with significant narrowing of the up and down fluctuations.
(4) The third part is one or two strong bearish candles that move downwards, forming a shape resembling a tall tower.
Function:
(1) Initially (in the first part) the market situation is still good, prices continue to rise, accumulating a certain increase, reflecting investors' optimism about the future market, thus actively chasing the market, and prices rise to a higher level.
(2) Subsequently (in the second part) the market clearly turns quiet, the speed and amplitude of the rise begin to slow down, and at high positions, there is a phenomenon of price weakness in rising, mainly because buyers feel the price is too high and thus do not add to their positions!
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