Bullish Tasuki Line candlesticks - Complete Technical Analysis

Tasuki Line Technical analysis

Hello traders,  welcome to my blog. Today I will discuss  in detail about the Bullish Tasuki Line candlestick pattern. In Technical Analysis this is a highly reliable bullish candlesticks pattern. It means now the bearishness in the market is over and the uptrend is about to begin.

Technical analysis of Bullish Tasuki Line candlestick  

structure of bullish tasuki line

* The Bullish Tasuki Line candlesticks pattern consists of two candles. The first candle is  Long Bearish or Marubozu  . It is of red colour.

* The second candle is  Long bullish  or Marubozu candlestick . It is of green colour.

* The second candle should open gapped  up . ie. The second candle’s  open price lie between body of first candle.

* Second candle should close above the high price of first candle.

* The high of the second candle is  high of this pattern. And low of first candle is called low of  this pattern.

Where is Tasuki Line formed ?

Tasuki line candle formation

* It is always formed after a long downtrend  in the chart. It is formed at the Bottom of the chart. After the formation of this pattern, the possibility of bearishness in the market ends. Buying after getting the confirmation will definitely be beneficial.

* It forms  in every type of market  such as Indian stock market, commodity market, foreign market etc.

* It appears in intraday charts, daily charts, weekly charts and monthly charts. In these  charts  it works very well.

Where to use it?

* If you are trading in intraday then watch it in 5 minute ,15 minute and hourly time frame. But it gives good result in hourly time period.

* If you do positional trading then see it in daily chart and monthly chart.

How to use Bullish Tasuki Line ?

* Suppose this pattern is formed in the chart. If the new candle is opened gap-up from this pattern then you have to buy in the market.

* Buy only if the new candle closes above the high of this pattern. This is very necessary.

* Volume of second candle must be higher than that of first candle. It indicate that signal is more powerful.

* The stop-loss is to be placed below the low price of this pattern.

Let us understand this in the chart.

Tasuki line in chart

* The Bullish Tasuki Line  pattern in this chart is formed after a long downtrend and the volume of the second candle is more than that of the first candle of this pattern.

* Buy when the new candle closes above the high of this pattern.

* The  new candle in this chart has closed above this pattern. This is the right time to trade.

* Put a stop-loss at the bottom of this pattern.

When to book profit?

* Until a trend changing signal is received.

Important Point

* In Tasuki line candlestick pattern open price of second  candle should lie between first candle .

* First Candle is long bearish or marubozu .

* After the formation of this pattern, one should not buy until the market price crosses its high.

* Volume of second candle must be higher than that of first candle.