Sunday, March 14, 2010

BULLISH CANDLESTICK KICKER PATTERN



The Bullish Kicking Pattern is a White Marubozu following a Black Marubozu. After the Black Marubozu, market gaps sharply higher on the opening and it opens with a gap above the prior session's opening thus forming a White Marubozu.

We should be careful that both of the patterns do not have any shadows or they have only very small shadows.

The Bullish Kicking Pattern is somewhat similar to the Bullish Separating Lines Pattern. The opening prices are equal in Bullish Separating Lines Pattern while in the Bullish Kicking Pattern a gap occurs.

The Bullish Kicking Pattern is highly reliable, but still, a confirmation of the reversal on the third day should be sought. This confirmation may be in the form of a White Candlestick, a large gap up or a higher close on the third day.

No comments:

Post a Comment