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Bullish Three Outside Up Candlestick formation

Bullish Three Outside Up Candlestick formation

After an established downtrend, day-one continues the trend with a red candle. Day-two is a long blue day that engulfs the body of the first day, closing well above the previous days open.  The third day is a blue day with an even higher close than the second day.

The Bullish Three Outside Up pattern is one of the more clear-cut three day bullish reversal patterns. The formation reflects buyers overtaking selling strength, and often precedes a continued rally in price. In fact up to day-two we have a bullish Engulfing Pattern, itself a strong two-day reversal pattern.

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