Bullish Tower Bottom Candlestick Pattern
This candlestick pattern is identified through a series of observations since the candlestick pattern takes several trading periods for it to develop.
When a tall red candlestick pattern develops at the end of of an extended downtrend for a stock's share price, and then the next couple of candlesticks fail to push lower than the close of the tall red candlestick, you may be witnessing the development of a Bullish Tower Bottom candlestick pattern in process.
A Bullish Tower Bottom candlestick pattern can sometimes be anticipated when you see a Bullish Harami candlestick pattern develop. A Bullish Harami candlestick pattern can be a prelude to a Bullish Tower Bottom candlestick pattern.
These are the requirements for a Bullish Tower Bottom candlestick pattern.
- 2 tall candlesticks separated by 2-5 candlesticks that have smaller real bodies than the 2 tall candlesticks
- The first tall candlestick's real body is usually green colored but can also be red as I have illustrated on the above illustration
- The second tall candlestick's real body is usually red colored but can also be green in volatile markets
Characteristics & Observations
These are some of the characteristics and observations I have made with Bullish Tower Bottom candlestick patterns......
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