Online Trading Blog

  • Weekly Stock Market Insights.
  • Trading Strategies, Products & Info
  • Indicators, Candlesticks & Patterns
  • Be a Subscriber be a Happy Trader
  • Click here to Explore the sitemap.

 

Thursday, September 24, 2009

Bullish Side by Side White Lines

Bullish side by side white lines is a bullish trend-continuation candlestick pattern indicating continuation of an existing bullish trend. This is a three candlestick formation comprised of all bullish (white or colorless) candlesticks.


The requirements of a bullish side-by-side white lines candlestick pattern include:
  • The market should be characterized by a significant uptrend.
  • The first day is a bullish day.
  • The second day is a bullish day but the price opens a gap above.
  • The third day is also a bullish day where the real-body of the candlestick is almost identical to the second day candlestick with (almost) the same opening and closing prices.

Bullish side by side white lines formation occurs when bulls are actively controlling the market movements. The first candlestick is an indication of a strong bullish trend, the trend strengthens with the formation of a second candlestick which opens a gap above the first candlestick and closes at a new high. Though the market opens much below on the third day (close to the second day's opening price) the bullish trend is expected to continue as the market closes close to the second day's closing price.

Bullish side-by-side candlestick is a highly reliable pattern of trend continuation. The reliability increases with the similarity of second and third candlesticks and with a new high formation of the third candlestick. Confirmation of trend continuation in the form of a bullish candlestick, a gap above opening or a higher close on the next trading day is indicated.

NobleTrading.com Offers Online Stock Trading, Online Options Trading
Online Futures Trading, Online Forex Trading
Worldwide Brokerage Service, Day Trading Brokerage

Blog Home    Archive List    << Previous     -    Next >>

Privacy Statement | Margin Disclosure | Risk Disclosure | Business Continuity Plan | Site Map | Order routing Disclosure Penson | Blog

The risks involved with online trading can be financially substantial. Online trading system delays or market volatility may adversely affect online trading related services. Not all securities, services or products are available in all countries or U.S. states. Please consider whether online trading is compatible with your financial resources and individual circumstances. Online trading in extended hours entails additional risks such as lower trading liquidity, higher volatility, more rapidly changing prices, wider spreads, and the like. Nothing herein should be deemed as an offer or solicitation of securities trading, products or services in any jurisdiction in which online trading brokerage services are not properly licensed. SIPC insurance does not apply to futures or forex business.

Brokerage Services by NobleTrading.com Member finra/sipc/nfa/pcx
Copyright NobleTrading.com ®, Inc 2009. All rights reserved.