Bullish Three Line Strike
- Type: Continuation
- Relevance: Bullish
- Prior Trend: Bullish
- Reliability: Low
- # of Sticks: 4
Definition:
This pattern is marked by three consecutive up candles followed by a long down candle that retraces the entire gain of the three previous candles. This one looks very much like a Bearish Engulfing and I am sure some of you think this is in the wrong section but if the stock is in an uptrend we normally see the trend continue. I have no proof but I like to look at this as whipping out some of the trailing stops out there before taking another leg higher.