Definition
Bullish Side By Side White Lines formation consists of three white candles. The first candle is followed by two candles with similar opening prices and a gap in the trend’s direction.
- Trend: Continuation
- Expected trend: Bullish
- Previous trend: Bullish
- Reliability: Low
- Type: Bullish
- Number: 3
Recognition
- The market is in an upward trend.
- The first day is a white candle.
- The second day is also a white candle, leaving a gap behind.
- The third day is also a white candle, with similar form, length, and closing price as the previous candle’s.
Interpretation
Bullish Side By Side White Lines formation is typical for the bullish market. The three white candles are confirming the ascending trend. The first white candle is followed by two candles with a gap in the trend’s direction. The formation has a low reliability, the trend might blow out.
Important factors
The candles on day 2 and 3 do not necessarily need to have the same size, but their opening prices must be similar. The formation has a low reliability, verification from another source is needed. The confirmation could come from a white candle with an upward gap or a higher closing price.
