Bullish Stick Sandwich Pattern
BULLISH STICK SANDWICH PATTERN (BSSP)
the shorts need protection
1. Market is on a downtrend;
2. Day 1 has a Black Closing Marubozu (BCM);
3. Day 2 has a white stick which is above the close of Day 1; and
4. On Day 3, we see a BCM with a close equal to the close of Day 1.
The BSSP is distinguished by consecutive higher opens for 3 days. Eventually, it results to a close that is equal to Day 1’s close. It may signal that the prices are now seeking a support price. From this level, we may see a reversal.
1. In this pattern, there is a downtrend going on
2. A confirmation on Day 4 is necessary to ensure that the downtrend is reversed (through a white candlestick, a large gap up or a higher close)