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Upside Tasuki gap
As the name suggests - "upside" - this is a bullish continuation pattern.
This Pattern signals a : Continuation
Reliability of this candlestick pattern: Moderate
How to Identify:
Three candles are involved in forming this pattern. On a daily chart, here's how it will unravel:
- 1st day is a bulls day (white candle)
- 2nd day is also a bull day - but it opens higher with a GAP.
- 3rd is bears day (black candle) its opens within the 2nd day's body and close somewhere in the middle of the gap.
Market Psychology:
Bulls were ruling on the first day and the second day's opening gap encourages them more - however, some of the Bulls having seen good profits and start taking them off the market - pushing the close of the day near the middle of the gap.
In this setup volume is very important - as long the 3rd day's volume is low - it is anticipated that the bulls will take control and continue the uptrend.
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Upside Tasuki gap
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