Japanese candlesticks - Side by side white lines
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Bullish side by side white lines
Definition: A bullish side by side white lines structure is comprised of three Japanese candlesticks.The first and second must be separated by a bullish gap.The last two candlesticks are bullish and have a similar opening price.The last two candlesticks are small and almost identical.
Illustration:
Characteristic: A bullish side by side white lines structure follows a bullish trend marked by several large green candlesticks.
Significance: A bullish side by side white lines structure is a continuation pattern that shows that buyers are covering their positions.
Note: A bullish side by side white lines structure is a very rare pattern.Ideally, there shouldn’t be any high wicks on the two small candlesticks.
Invalidation :If the next candlestick is not bullish or does not open onto a bullish gap, the structure can be considered invalidated.
Bearish side by side white lines
Definition: A bearish side by side white lines structure is comprised of three Japanese candlesticks.The first and second must be separated by a bearish gap.The last two candlesticks are bearish and have a similar opening price.The last two candlesticks are small and almost identical.
Illustration:
Characteristic: A bearish side by side white lines structure follows a bearish trend marked by several large red candlesticks.
Significance: A bearish side by side white lines structure is a continuation pattern that shows that sellers are covering their positions.
Note: A bearish side by side white lines structure is a very rare pattern.Ideally, there shouldn’t be any low wicks on the two small candlesticks.
Invalidation: If the next candlestick is not bearish or does not open onto a bearish gap, the structure can be considered invalidated.
