As of 09/25/2020
  Indus: 27,174 +358.52 +1.3%  
  Trans: 11,270 +152.52 +1.4%  
  Utils: 808 +12.20 +1.5%  
  Nasdaq: 10,914 +241.29 +2.3%  
  S&P 500: 3,298 +51.87 +1.6%  
YTD
-4.8%  
 +3.4%  
-8.1%  
 +21.6%  
 +2.1%  
  Targets    Overview: 09/14/2020  
  Up arrow28,650 or 26,000 by 10/15/2020
  Up arrow11,750 or 10,600 by 10/01/2020
  Up arrow845 or 775 by 10/01/2020
  Up arrow11,800 or 10,400 by 10/01/2020
  Up arrow3,600 or 3,200 by 10/01/2020
CPI (updated daily): Arrows on 8/18/20
As of 09/25/2020
  Indus: 27,174 +358.52 +1.3%  
  Trans: 11,270 +152.52 +1.4%  
  Utils: 808 +12.20 +1.5%  
  Nasdaq: 10,914 +241.29 +2.3%  
  S&P 500: 3,298 +51.87 +1.6%  
YTD
-4.8%  
 +3.4%  
-8.1%  
 +21.6%  
 +2.1%  
  Targets    Overview: 09/14/2020  
  Up arrow28,650 or 26,000 by 10/15/2020
  Up arrow11,750 or 10,600 by 10/01/2020
  Up arrow845 or 775 by 10/01/2020
  Up arrow11,800 or 10,400 by 10/01/2020
  Up arrow3,600 or 3,200 by 10/01/2020
CPI (updated daily): Arrows on 8/18/20

Bulkowski on the Upside Tasuki Gap

 

Upside Tasuki Gap Candlestick: Summary

The upside Tasuki gap is a candlestick pattern that acts in reality as it is supposed to in theory. But it doesn't do it very well. The frequency rank of 74 means it will be difficult to find, but once you to uncover one, the price move can be delicious. Let's take a closer look.

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My book, Encyclopedia of Candlestick ChartsEncyclopedia of Candlestick Charts book., pictured on the left, takes an in-depth look at candlesticks, including performance statistics.

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-- Tom Bulkowski

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Important Results
Discussion
Identification Guidelines
Three Trading Tidbits
Example
See Also

Upside Tasuki Gap Candlestick: Important Results

Theoretical performance: Bullish continuation
Tested performance: Bullish continuation 57% of the time
Frequency rank: 74
Overall performance rank: 5
Best percentage meeting price target: 38% (bear market, up breakout)
Best average move in 10 days: -9.20% (bear market, down breakout)
Best 10-day performance rank: 2 (bear market, down breakout)

All ranks are out of 103 candlestick patterns with the top performer ranking 1. "Best" means the highest rated of the four combinations of bull/bear market, up/down breakouts.

The above numbers are based on hundreds of perfect trades. See the glossary for definitions.

The ideal upside Tasuki gap candlestick
Upside Tasuki Gap

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Upside Tasuki Gap Candlestick: Discussion

The upside Tasuki gap is a candle that is suppose to be a bullish continuation pattern and it is, but only 57% of the time. I consider that "near random," so do not try to guess the breakout direction. The frequency rank is 74, so this may be a difficult candle pattern to find. I had trouble in the 4.7 million candle lines that I used. I discovered just 704 of them. The good news with this candle pattern is the overall performance rank of 5. Just four candle patterns perform better than this one over 10 days.

The best average move 10 days after the breakout is a drop of 9.2% in a bear market, ranking 2nd. I consider moves of 6% or higher as good, so this is a moon shot! A look at the numbers shows that the candle pattern in a bear market, regardless of the breakout direction, is the best performing. However, the bull market results aren't bad either.

Upside Tasuki Gap Candlestick: Identification Guidelines

CharacteristicDiscussion
Number of candle linesThree.
Price trend leading to the patternUpward.
ConfigurationLook for a white candle in an upward price trend. Following that, find another white candle, but this one gaps higher and that includes a gap between the shadows of the two candles. The last day is a black candle that opens in the body of the prior candle and closes within the gap created between the first two candles.

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Upside Tasuki Gap Candlestick: Three Trading Tidbits

If you want a few bones from my Encyclopedia of candlestick charts book, here are three to chew on. The pages refer to the book where the tips appear.

  1. Upside Tasuki gap candles that appear within a third of the yearly low usually perform best -- page 890.
  2. The candle breaks out upward most often -- page 894.
  3. If the breakout is downward, the stock sometimes returns to the launch price -- page 893.

Upside Tasuki Gap Candlestick: Example

The upside Tasuki gap candlestick on the daily scale

The upside Tasuki gap candlestick appears circled in red on the daily scale. Price trends upward leading to the start of this candle pattern. Then a white candle appears. The next day, another white candle shows but this one gaps upward, leaving a price hole on the chart. Notice that the shadows of the two candles do not overlap. The final day is a black candle that opens within the body of the white middle candle of the 3-pack and closes inside the gap. The black candle does not close the gap if you ignore the shadows.

This upside Tasuki gap appears in an upward price trend and has an upward breakout. That means it acts as a bullish continuation candle. An upward breakout, by the way, occurs when the stock closes above the top of the candlestick pattern.

-- Thomas Bulkowski

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See Also

 

Support this site! Clicking any of the books (below) takes you to Amazon.com. If you buy ANYTHING while there, they pay for the referral.

My novels:  Bumper's Story Head's Law

Chart Patterns: After the Buy Getting Started in Chart Patterns, Second Edition Trading Basics Fundamental Analysis and Position Trading Swing and Day Trading Visual Guide to Chart Patterns Encyclopedia of Candlestick Charts Encyclopedia of Chart Patterns 2nd Edition Trading Classic Chart Patterns

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