False Bars
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False bars give a fake display of price growth or contraction. These bars break above a resistance line, or below a support line, then revert back to the other side for their close. Note they complete back on the same side of the resistance, support, or trendline that they opened. At the time, it will seem like a breakout, but they will lose energy or momentum in that direction before the close, which is why post close bars are the best sources for interpretation of prices.
These bars represent a change in traders’ mindsets during the bar’s creation. They originally begin to push the trend in a specific direction, but don’t have the energy to continue that push. Exhaustion of the buying pressure if pushing upwards (or selling pressure if pushing downwards) occurs, and the other side takes over, moving the price back.
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