BULLISH THREE LINE STRIKE
on chart POWEFULL BULLISH THREE LINE STRIKE CANDLESTICK PATTERN :-
bearish three line strike pattern:- https://smartstockadda.com/bullish-three-line-strike-candlestick/
What is the Bullish Three Line Strike Candlestick Pattern?
This is a bullish or bullish triple candlestick pattern which is seen forming at the bottom (downwards) of the chart. After the formation of this candlestick pattern, there is a fear in the market that the market may now go bullish. Is. It appears to be forming at the support at the bottom of the chart after the recession in the market.
Identifying candles in the Bullish Three Line Strike candlestick pattern?
Bullish 3 Line Strike Candlestick Pattern consists of four candles whose position will be as follows
- This will be a small market bullish candle whose color will be green or white.
- The second candle will also be a bullish candle in the market, whose open price will be from the middle part of the first candle and its closing point will be above the first candle. The third candle will also be a bullish market whose open price will be from the middle of the second candle and its closing point will be above the high of the second candle.
- The 4th candle will be a big bearish candle whose open price will be near the closing price of the 3rd candle and the closing point will be near the low (minimum) of the first candle.
How to find bullish three line strike ?
It’s very easy to find out
- First of all, it should form at the bottom of the chart.
- Its first three candles will look like the Three White Soldier candle pattern.
- The fourth candle will be a large bodied candle which will indicate to us that this bullish three line candlestick pattern has been formed. Keep in mind that this candle stick pattern is formed at the bottom of the chart only. If this candle pattern is formed at the top and not at the bottom of the chart, then there is a possibility of the market going down because then it acts like a bearish engulfing pattern. It works like a bearish engulfing pattern because its last two candles form a bearish engulfing pattern.
Use of Bullish Three Line Strike Candle Pattern in Trading ?
We will use this candlestick pattern in trading keeping in mind three things: entry, stoploss, target which we have to set as follows: –
Entry:- When the candlestick pattern is formed at the bottom or lower part of the chart, then if the next candle formed after that is a bullish candle, then entry should be taken in the market immediately after that. Stoploss:- In this candlestick pattern, stop loss should be placed a little below the first or fourth candle, whichever candle has made a bigger low.
Target:- In this, we should set the target after seeing the resistance or we should go with the target in two or three times of our stoploss.
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