• 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.

 

Opposite: Bearish Three Line Strike