High Probability Candlestick Pattern 1: Three Line StrikeAs you read from image description that's pretty much all there is to learn on this pattern.
Thomas Bulkowski in his book "Encyclopaedia of Candlestick Charts" mentions that this pattern predicts higher prices with an 83% accuracy rate.
Do you Remember Nirmala Sitaraman Candle?
Yes that's three line strike which was formed after budget was announced on 1st Feb 2021
Adding Another Example here of Reliance
Note: Candlestick patterns alone are not reliable sometime, so combine them with some indicators like RSI to spot positive divergence on same or lower time frame OR MACD crossover and histogram positive as shown in below example
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Threelinestrike
JSWsteel | Three Line Strike Candle stick Pattern spotted 🎯⭕ Positional Trading opportunity! 4hrs Chart Alert !!!⭕
--Buy Above =411 or CMP
--Target = 426.95 | 451
--Stop-loss = 393.90
--R:R =2.34
--Expected Profit = 9.78 %
--Expected Holding = 30 days only
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⭕Technical Reasons to trade or Strategy applied:- ⭕
1) Stock has formed flag pattern & has given the breakout
2) Three line candlestick pattern is observed clearly in the chart
3) Volume is good enough
4) Target is based on Fibonacci levels & pattern height & resistance level as well
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L&T Possible UpsideThe Price action seems bullish from here after a decent downtrend. Reasons:
1) 3 strong red candles are nullified by a single green candle with above average volumes.
2) Happened near lower line of a channel.
Target: 1020 (upper end of Channel)
SL: 844 (recent swing low)
(PS: Expect a little resistance at the control price.)
Tomorrow heavy Rise or heavy fall in market!Tomorrow on NSE:NIFTY , if a big green bullish bar emerged from day's opening price (engulfing previous 3 red bars), it will be a Three line Strike pattern, which is a highly bullish pattern with 84% accuracy rate!
However if its a bearish red bar, then it will be a three black crow pattern which will confirm long term bearish phase! See my other posting also on these. The link is given below