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[1] Bearish Three Line Strike is a extension of the Three Black Crows (discussed earlier), which is a bearish pattern signifying a downtrend in the market. This extension occurs due to the occurrence of a strong bullish candle after the lowest point of the Three Black Crows.
[2] The important thing to note there is that the last candle engulfs all the previous 3 candles. In other words, it nullifies the effect of the downtrend and shows the strong move by the bulls. With the open of the final candle being lower than the close of the last bearish..
[3] ..candle, it is essential that the bullish candle has a heavy volume in order to counteract the effect of the previous 3 candles. It is a reversal pattern. If only the last twi candles are considered (the bearish one followed by the bullish candle), it forms the..
[4]..Bullish Engulfing. So it is a stronger version of the Bullish Engulfing and gives a more confirming and stronger pattern. This pattern is a good example to see the volatility in the market and how volume can play a big role in TA. The downtrend need not be Three Black Crows
[5] as Three Black Crows have the requirement of having no wicks and being very strong candles with major real bodies. They can be 3 bearish candles with the subsequent open always below the previous open and the close being below the previous close. The idea behind is that ..
[6].. it should be a downtrend forming such a pattern. With the Three Black Crows, it gives a more specific and a stronger version of this pattern.
#ThreeLineStrike
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