Hikkake Pattern
The Hikkake Pattern is a technical analysis charting pattern used to identify potential reversals in the market. It is a three-candle pattern that is used to identify a possible trend reversal. The pattern is formed when the second candle in the pattern closes lower than the first candle, and the third candle closes higher than the second candle. The pattern is considered to be a bullish reversal pattern, as it signals a potential reversal from a downtrend to an uptrend.
History of the Hikkake Pattern
The Hikkake Pattern was first introduced by Japanese trader and analyst Goichi Hosoda in the 1960s. Hosoda was a pioneer in the field of technical analysis and is credited with developing a number of charting patterns, including the Hikkake Pattern. The pattern is named after the Japanese word “hikkake”, which means “hook” or “catch”. The pattern is designed to “catch” a potential reversal in the market.
Comparison Table
| Pattern | Reversal |
|---|---|
| Hikkake Pattern | Bullish |
| Head and Shoulders Pattern | Bearish |
| Double Bottom Pattern | Bullish |
| Double Top Pattern | Bearish |
Summary
The Hikkake Pattern is a technical analysis charting pattern used to identify potential reversals in the market. It is a three-candle pattern that is used to identify a possible trend reversal. The pattern is considered to be a bullish reversal pattern, as it signals a potential reversal from a downtrend to an uptrend. The pattern was first introduced by Japanese trader and analyst Goichi Hosoda in the 1960s and is named after the Japanese word “hikkake”, which means “hook” or “catch”. For more information about the Hikkake Pattern, you can visit websites such as Investopedia, TradingView, and StockCharts.
See Also
- Head and Shoulders Pattern
- Double Bottom Pattern
- Double Top Pattern
- Cup and Handle Pattern
- Flag Pattern
- Pennant Pattern
- Rising Wedge Pattern
- Falling Wedge Pattern
- Triple Top Pattern
- Triple Bottom Pattern
