Analisa IHSG Three Line Strike
Three Line Strike Candlestick
IHSG Three Line Strike- Three blue days occur in a row continuing an established bull trend.
- Each day should close higher than the previous day.
- Day-four is red candle that closes near the open of the first day
So long as the previous uptrend is an established one, candlestick analysts view the Three Line Strike formation as a sign that the downtrend may still continue.
The first three days serve as a fairly clear bullish move. Up to day-three in fact we have a Three White Shoulders formation and a strong bullish signal. One day of sell-offs that only goes down to the open price of the patterns start is considered to be more a sign that longs are covering their positions than any true sign of a reversal. Thus traders will watch for long entry opportunities to come.
Since the overall signal is fairly weak, most will want confirmation in the form of bullish price action the next day.
Please also read the below article :
In the Three Line Strike bull, the market is continuing in its uptrend, aided by the recent Three White Soldiers bull pattern. The fourth day opens in the direction of the trend, but profit taking or short covering causes the market to move strongly in the opposite direction.
This action causes considerable soul searching by investors, but remember that this move completely eradicated the previous three days. If the previous trend was strong, this should be looked upon as just a setback with some profit taking.
This last day is considered a liquidating day, which will give the upward trend needed strength, then it should continue in its previous direction.
Confirmation of the trend continuation would be with a white candlestick, a gap up or by a higher close on the next trading day.
How do you think about tomorrow ?
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