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 | ||
Finally, a single candle line that works! In theory, the Takuri line candle should act as a bullish reversal and it does, 66% of the time, placing its rank at 18 out of 103 candle patterns, where 1 is best. Its frequency rank is 28, so you should be able to find it often in a historical price series. However, the overall performance ranks 47, which is about mid way down the performance list. Thus, even though price may reverse the downward price trend often, price does not trend far after that.
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Encyclopedia of Candlestick Charts
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Theoretical performance: Bullish reversal
Tested performance: Bullish reversal 66% of the time
Frequency rank: 28
Overall performance rank: 47
Best percentage meeting price target: 82% (bull market, up breakout)
Best average move in 10 days: -4.45% (bear market, down breakout)
Best 10-day performance rank: 39 (bull 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. |
 Takuri Line
|
As I mentioned in the introduction to the Takuri line, it works as a bullish reversal of the prevailing downward price trend 66% of the time. That means two of every three trades will show a reversal. Unfortunately, the new trend does not last long, if the overall performance rank of 47 has meaning.
The best move over 10 days comes after a downward breakout in a bear market. Price drops by 4.45%. Using the height of the candle projected in the direction of the breakout shows that the new price trend meets the target 82% of the time. That is not a bad score, but it falls short of the 90% plus values that other candle patterns achieve.
| Characteristic | Discussion |
| Number of candle lines | One. |
| Price trend leading to the pattern | Downward. |
| Configuration | A small bodied candle with a lower shadow at least three times the height of the body and little or no upper shadow. |
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 chart shows two examples of Takuri lines on the daily scale. Candle A appears in a downward price trend with a long lower shadow.
This Takuri line has a small upper shadow, but it is small enough that it poses no bother. Price breaks out upward the next day when it closes above the top of the candlestick.
Candlestick B is another Takuri line. It appears after a downward trend has finished and it also has a long lower shadow, but a nubbin of an upper shadow. The breakout from B is also upward and that happens three days later with a tall white candle, called an opening white marubozu.
The bodies of both Takuri lines are white, but they can be any color, by the way...
-- Thomas Bulkowski
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