Bearish Rectangle Top
đ The bearish rectangle top pattern functions as a reversal pattern when it occurs in a uptrend and the breakout happens to the downside.
đ The price rise in a strong uptrend and then starts to consolidate between support and resistance levels.
đ The consolidation marks a period of equilibrium when neither buyers nor sellers are stronger than the other party.
đ This up-down struggle continues for a while and the pattern begins to exhibit the shape of a rectangle.
đ In the case of a Bearish rectangle top chart pattern, the stop loss should be placed at the previous high of the pattern.
đ The limitation for the target will be the previous support level which was formed before by the price action.