Three Line Strike is a trend continuation candlestick pattern made up of 4 bars.
The bearish Three Line Strike:
The first three bars are long and bearish and continue the downtrend having Close prices consequently lower;
The 2nd and the 3rd bars open within the previous bar’s body;
The 4th bar is bullish, opening at a new Low price;
The 4th bar’s Close price is higher than the Open price of the 1st bar.
The bullish Three Line Strike:
The first three bars are long and bullish and continue the uptrend having Close prices consequently higher;
The 2nd and the 3rd bars open within the previous bar’s body;
The 4th bar is bearish, opening at a new High price;
The 4th bar’s Close price is lower than the Open price of the 1st bar.
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Under certain circumstances, a Bullish pattern can also perform as a Bearish pattern, and a reversal pattern can be changed into a continuation pattern.
If you want to find out the performance of this pattern in real market, not in theory, our data mining results are your must have reference.
