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Bullish Tri-Star Candle Pattern
Bullish Tri-Star Candlestick: Summary
Theoretical performance: Bullish reversal Tested performance: Bullish reversal 60% of the time Frequency rank: 79 Overall performance rank: 28 Best percentage meeting price target: 77% (bear market, up breakout) Best average move in 10 days: 5.11% (bear market, up breakout) Best 10-day performance rank: 26 (bear market, up 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. |  Bullish Tri-Star |
Bullish Tri-Star Candlestick: Important Results
The bullish tri-star candlestick acts as a bullish reversal in theory and also in reality, but only 60% of the time. That is close to random, 50%. The overall performance rank is 28, which is quite high up the performance list. It suggests the post breakout trend can be a worthwhile move.
The best average move 10 days after the breakout is a rise of 5.11% in a bear market. That ranks 26th. I consider moves of 6% or higher to be good ones, so the bullish tri-star candlestick falls short. Drilling into the data, the numbers shows that the pattern performs slightly better after an upward breakout than a downward one.
Bullish Tri-Star Candlestick: Discussion
| Characteristic | Discussion |
| Number of candle lines | Three. |
| Price trend leading to the pattern | Downward. |
| Configuration | Look for three doji after a downward price trend. The middle doji has a body below the other two. |
Bullish Tri-Star Candlestick: Identification Guidelines
- Bullish tri-star candles that appear within a third of the yearly high tend to act as reversals most often — page 825.
- Select tall candles for the best performance — page 823-824.
- For the best performance look for the bullish tri-star as part of a downward retracement in an upward price trend — page 825.
Bullish Tri-Star Candlestick: Three Trading Tidbits
The chart shows a bullish tri-star candlestick circled in red on the daily scale. This bullish tri-star appears after a downward price trend that takes the stock much lower, bottoming in the bullish tri-star.
Three doji appear, with the middle one below the bodies of the two adjacent doji. Since the price trend leading to the tri-star is downward and price breaks out upward, this candlestick pattern acts as a bullish reversal. An upward breakout occurs when price closes above the top of the candlestick pattern, by the way.
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