Bullish Three Line Strike
A bullish three line strike is a technical analysis pattern used to identify a potential reversal in a bearish trend. It is characterized by three consecutive long-bodied candlesticks that close higher than the previous day’s close. The pattern is considered to be a sign of strength in the market and is often used by traders to enter long positions.
History of the Bullish Three Line Strike
The bullish three line strike pattern was first described by Japanese candlestick charting pioneer, Homma Munehisa, in the 18th century. He believed that the pattern was a sign of a potential reversal in the market and used it to identify buying opportunities. The pattern has since become a popular tool among technical analysts and traders alike.
Comparison Table
| Pattern | Description |
|---|---|
| Bullish Three Line Strike | Three consecutive long-bodied candlesticks that close higher than the previous day’s close. |
Summary
The bullish three line strike is a technical analysis pattern used to identify a potential reversal in a bearish trend. It is characterized by three consecutive long-bodied candlesticks that close higher than the previous day’s close. The pattern is considered to be a sign of strength in the market and is often used by traders to enter long positions. For more information about this term, you can visit websites such as Investopedia, TradingView, and StockCharts.
See Also
- Bearish Three Line Strike
- Bullish Engulfing Pattern
- Bearish Engulfing Pattern
- Bullish Harami
- Bearish Harami
- Bullish Abandoned Baby
- Bearish Abandoned Baby
- Bullish Piercing Line
- Bearish Piercing Line
- Bullish Morning Star
