Bullish Kicker |
Characteristic of Candlesticks: Reversal
Relevance of Candlesticks: Bullish
Prior Trend of Candlesticks: Bearish
Reliability of Candlesticks : 1st Grade
Confirmation of Candlesticks: Highly Reliable
Candlestick Patterns Key Reference |
DESCRIPTION
Bullish Kicker pattern is followed by a long bearish candlestick at the bottom of the downtrend followed by a gap up on the next candlestick which form a Bullish Marubozu.
Bullish Kicker is an bottom reversal pattern which is highly reliable for reversing a downtrend to an uptrend.
PATTERN RECOGNITION
1. Bullish Kicker pattern can be identified by a downtrend followed by a bottom reversal.
2. Refering to above diagram, firstly we will see a bearish candlestick at the bottom of the downtrend followed by a gap up on the next candlestick.
3. Finally we will see a Bullish Marubozu candlestick with opening price near the opening price of previous candlestick indicating an uptrend.
EXPLAINATION
When the Bullish Kicker pattern is formed at the bottom of a downtrend with a gap into immediate reversal is extremely powerful indication of a change in sentiment showing a strong signal of the uptrend market.
The first bearish candlestick indicated the bear is currently in control.
The next candlestick immediately open at near the opening price of the previous candlestick and form a Bullish Marubozu candlestick showing an uptrend.
The price does not move within the previous candlestick range, instead it should close with another gap.
The 1st grade reversal patterns are the most reliable group of reversal patterns that seldom require any confirmation.
POINT TO NOTE
For Bullish Kicker pattern, we should note that both of the candlesticks should not have shadows or or they have very short shadow, both candlesticks should be Marubozu with a gap up by the following candlestick.
The Bullish Kicker pattern is highly reliable. The longer the body, the stronger the reversal of trend will happen by the conviction of traders.
CANDLESTICK PATTERNS KEY REFERENCE
Irrespective of Color (Can be bullish or bearish) |
Uptrend |
Consolidation |
Downtrend |
ANTICIPATED DIRECTION OF TREND
Lighter Arrow = Lower Probability
Solid Arrow = Higher Probability
More Likely to go sideway, Less likely to rally
|
More likely to rally, Less likely to go sideways
|
More likely to go sideway, Less likely to fall
|
More likely to fall, Less likely to go sideways |
