EURUSD 1.1663 USDJPY 111.11 USDCAD 1.2539 EURCZK 26.044 USDCZK 22.325 EURPLN 4.2624 USDPLN 3.6542
EURUSD 1.1663 USDJPY 111.11 USDCAD 1.2539 EURCZK 26.044 USDCZK 22.325 EURPLN 4.2624 USDPLN 3.6542

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The three line strike formations indicate an upward or bullish trend continuation

Rule of thumb

The confirmation of the Three line strike formation is provided in the form of the fifth candle, where a rising one indicates that the formation has been properly built

Chart type: Candlestick

Applies to: Bullish Continuation

Significance: Low 

 

This formation indicating a bullish continuation trend is formed by four candles. Three of them are rising candles, where the closing price of each of the following candles should be higher than the closing price of the previous one. The forth candle is typically a long falling one, its closing price comes down nearly to the opening price of the first candle of this formation.

 

three line strike

 

When observing this formation, it may be  good practice to wait for the confirmation provided by a fifth candle. In a case where the fifth candle is a rising one, it can be interpreted as a sign of  continuation of a bullish upward trend.

 

How to use it with MetaTrader 5:

  • Select the candlestick chart with the Candlesticks icon
  • Look for an upward trend.
  • The first three candles are rising candles, each opening higher than the previous closing price.
  • The forth candle is a falling candle, closing at the same level as the opening of the first candle.

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