BULLISH TRI STAR

		BULLISH TRI STAR Type: Reversal Relevance: Bullish Prior Trend: Bearish Reliability: Medium Confirmation: Suggested No. of Sticks: 3
JOIN FBS   Definition:             Get the highest rated stock from Americanbulls for this pattern >>> The Bullish Tri Star Pattern is a very rare but significant bottom reversal pattern. Three Dojis form this pattern. The middle Doji is a Doji Star. Recognition Criteria: 1. Market is characterized by downtrend. 2. Then we see three consecutive Doji. 3. The second day Doji gaps below the first and third. Explanation: In the case of a Bullish Tri Star Pattern, we have a market, which is in a downtrend for a long time. However the weakening trend shows itself by the fact that the real bodies are probably becoming smaller. The first Doji is a matter of concern. The second Doji clearly indicates that market is losing its direction. Finally, the third Doji warns that the downtrend is over. This pattern indicates too much indecision leading to reversal of positions. Important Factors: A confirmation on fourth day is required to be sure that the downtrend has reversed. Confirmation may be in the form of a white candlestick, a large gap up or a higher close on the fourth day.