Turn Up

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Figure 1. Turn Up pattern.

Forecast: bullish reversal
Trend prior to the pattern: downtrend
Opposite pattern: Turn Down

Construction:

• First candle
  • any candle in an uptrend except the Four-Price Doji
  • a candle with a body below the trendline
• Second candle
  • white body
  • a candle with a body above the trendline

This article is devoted to the Turn Up two-line pattern.

The Turn Up pattern is a bullish reversal pattern. It was discovered by the CandleScanner team during the development of the software. It is included in the list of CandleScanner supported patterns due to its good efficiency and high frequency, which makes it potentially attractive for traders.

Whenever we are writing about pattern confirmation, we mention that it can be for example in the form of a trendline break. The Turn Up pattern, and its counterpart, the Turn Down pattern, acts exactly like that.

The first candle of the pattern can be any basic candle except the Four-Price Doji. It can appear either as a long or as a short line. Its whole body has to be located under a trendline, although its upper shadow can reach above it.

The second line of the pattern has to be a white candle, appearing either as a long or a short line, except the Four-Price Doji. The body of the candle has to be entirely placed above the trendline. The volume of the second candle should be above the average of the last candles.

Size of the bodies does not matter. As usual, however, the market context in which the pattern appeared is critical.

The Turn Up pattern requires a confirmation on the following candles, in the form of breaking the nearest resistance level.

It happens that a price gap is formed between the first and the second line of the pattern. In such cases, the pattern reliability is higher, assuming that it does not appear within a strong resistance zone.

The pattern reliability decreases when the market goes back under the trendline.

Figure 2. After the first occurrence of the Turn Up pattern, the market gradually moves up. Appearance of the Long White Candle (1) creates local support area. Indeed, the market tests that support shortly and then the prices increases.
Over two months later, since the first Turn Up pattern appearance, another one is formed. In this case, the market instead of slow growth moves up rapidly. The candle following pattern's occurrence, the Long White Candle (2), forms a strong support area which the bears will have to face soon.

Figure 3. The figure presents the Takuri Line being a bullish reversal pattern. It happens that it is the first line of the Turn Up pattern. The second line of the Turn Up pattern is also a confirmation of the Takuri Line. The candle following the Turn Up continues the uptrend for a while, as price gaps upward at the open. However, by day's end a black candle remains canceling the Turn Up pattern.
A few months later another Turn Up pattern appears on the chart. Three days later it is confirmed by the Short White Candle which is forming a local support zone for the future.

Turn Up statistics

Below you can find some Turn Up pattern statistics calculated by CandleScanner software. To see more detailed statistics, for other markets and periodicity try our CandleScanner software. Prices start at only $10, and you can see more detailed statistics, for other markets and periodicity. Click here to find out more!