Bullish Side-by-Side White Lines

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Figure 1. Bullish Side-by-Side White Lines pattern.

Japanese name: uwappanare narabi aka
Forecast: bullish continuation
Trend prior to the pattern: uptrend
Opposite pattern: Bearish Side-by-Side White Lines

Construction:

• First candle
  • a candle in an uptrend
  • white body
• Second candle
  • white body
  • the low price above the prior high price
• Third candle
  • white body
  • the low price above the first line high price
  • the candle's size similar to the prior candle's size

The Bullish Side-by-Side White Lines pattern is a three-line pattern which forecasts an uptrend continuation.

The first line appears as a long line in an uptrend. The second and the third line may be any white candle appearing as a long or short line, but the body cannot be longer than the first line body.

The pattern is characterized by a price gap appearing between the first line and two subsequent lines, which low prices are located above the first line high price. Two last candles should have a similar size. Also, their opening and closing prices should be similar.

Two first lines of the pattern form the Rising Window pattern. Bulkowski and Morris in their books present examples where price gaps only between bodies. In other words, the lower shadows of the second and third line may reach below the high price of the first line. In our approach we decided, however, to be more strict. The price gap must appear between candles including shadows because Shimizu emphasizes that the candles in this pattern should be rather short.

Figure 2. The Bullish Side-by-Side White Lines pattern is an extremely rarely occurring pattern on the charts.
On the chart, there is a Bullish Side-by-Side White Lines pattern, which two first lines form a Rising Window pattern. A price gap is confirmed by a high trading volume and will act as a support zone in the future.
The last line of the Bullish Side-by-Side White Lines pattern does not confirm the Rising Window pattern due to low trading volume. However, the next candle, an Opening White Marubozu, confirms both patterns because it was formed at a high trading volume.

Bullish Side-by-Side White Lines statistics

Below you can find some Bullish Side-by-Side White Lines pattern statistics calculated by CandleScanner software.