The hikkake pattern is a price pattern used by technical analysts and traders
hoping to identify a short-term move in the market's direction. The pattern
has two different setups, one implying a short-term downward movement in price
action, and a second setup implying a short-term upward trend in price.
The Hikkake pattern (pronounced Hĭ KAH kay) is a...
Lifted description from web:
Hikkake means to trap, trick, or ensnare. Primarily, this price pattern seeks to identify inside bar breakouts and profit from their failures.
An inside bar is a price bar that is entirely within the range of the preceding price bar. Inside bars are typical on price charts of most timeframes.
While you’ll often find inside bars in...