What is Three Outside Up: Bullish Reversal Pattern?
Three Outside Up pattern is another name for confirmed Bullish Engulfing Pattern. It is a bullish reversal pattern. In this pattern, first candle is a small black candle, closing at its low. Second candle engulfs completely the previous candle and closes near its high, thus creating a lon, white candle. Third candle breaks the high of the second candle and closes even higher.
Strategy: The high of the third candle should be broken successfully, before initiating new long positions
Three Outside Up pattern is another name for confirmed Bullish Engulfing Pattern. It is a bullish reversal pattern. In this pattern, first candle is a small black candle, closing at its low. Second candle engulfs completely the previous candle and closes near its high, thus creating a lon, white candle. Third candle breaks the high of the second candle and closes even higher.
Strategy: The high of the third candle should be broken successfully, before initiating new long positions