As of 11/20/2024
Indus: 43,408 +139.53 +0.3%
Trans: 17,002 -26.31 -0.2%
Utils: 1,055 +1.25 +0.1%
Nasdaq: 18,966 -21.33 -0.1%
S&P 500: 5,917 +0.13 +0.0%
|
YTD
+15.2%
+6.9%
+19.7%
+26.3%
+24.1%
|
 46,000 or 43,000 by 12/01/202418,000 or 16,600 by 12/01/20241,075 or 1,000 by 12/01/202420,000 or 18,400 by 12/01/20246,100 or 5,800 by 12/01/2024 |
As of 11/20/2024
Indus: 43,408 +139.53 +0.3%
Trans: 17,002 -26.31 -0.2%
Utils: 1,055 +1.25 +0.1%
Nasdaq: 18,966 -21.33 -0.1%
S&P 500: 5,917 +0.13 +0.0%
|
YTD
+15.2%
+6.9%
+19.7%
+26.3%
+24.1%
| |
|
46,000 or 43,000 by 12/01/202418,000 or 16,600 by 12/01/20241,075 or 1,000 by 12/01/202420,000 or 18,400 by 12/01/20246,100 or 5,800 by 12/01/2024 | ||
My book,
Encyclopedia of Candlestick Charts
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The bullish side by side white lines candlestick is a complicated pattern, judging from its frequency rank of 73 out of 103 candlestick types where 1 is the most popular. The pattern has three white candles that are supposed to be a bullish continuation pattern and they are, too, if you can find them. However, the post breakout trend ranks just mid list, so do not expect any large moves after the breakout.
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Theoretical performance: Bullish continuation
Tested performance: Bullish continuation 66% of the time
Frequency rank: 73
Overall performance rank: 46
Best percentage meeting price target: 61% (bear market, down breakout)
Best average move in 10 days: -6.07% (bear market, down breakout)
Best 10-day performance rank: 17 (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. |
 Bullish Side by Side White Lines
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The bullish side by side white lines candlestick pattern acts in theory as it does in reality, as a bullish continuation pattern 66% of the time. That is quite respectable. The frequency rank is 73rd, so it is a rare pattern, but you still should be able to find examples. Out of over 4.7 million candle lines, I found 984, so the numbers are thin.
The best move 10 days after the breakout is a drop of 6.07% in a bear market. That ranks 17th for performance. I consider moves of 6% or higher to be good ones, so this candlestick makes the cut.
| Characteristic | Discussion |
| Number of candle lines | Three. |
| Price trend leading to the pattern | Upward. |
| Configuration | Look for three white candles in an upward price trend. The last two candles should have bodies of similar size, open near the same price and above the top of the body of the first white candle. |
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.
The bullish side by side white lines appears circled in red on the daily scale. Price is trending upward leading to the start of the candlestick pattern. The first candle is a white one, in fact, all three are white candles. The last two candles in the pattern have bodies of similar size that open near each other and above the close of the first candle in the pattern. That restriction produces a gap between the first candle and the last two candles, if you ignore the shadows.
This bullish side by side white lines candle pattern has price entering the pattern from the bottom and exiting out the top. That means it acts as a bullish continuation. An upward breakout seals the deal when price closes above the top of the highest shadow in the three-line pattern.
Since the bullish side by side white lines acts as a continuation most often, you might think that the best trading setup is the one shown, that of having the candlestick appear in a rising price trend. However, the statistics say that reversals (downward breakouts) tend to be more powerful. Since the samples for this candlestick pattern are comparatively few, do additional research on this behavior before you decide to trade bullish side by side white lines.
-- Thomas Bulkowski
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