Upside Tasuki Gap

See our Patterns Dictionary for other patterns.

Check our CandleScanner software and start trading candlestick patterns!

Figure 1. Upside Tasuki Gap pattern.

Japanese name: uwa banare tasuki
Forecast: bullish continuation
Trend prior to the pattern: uptrend
Opposite pattern: Downside Tasuki Gap

Construction:

• First candle
  • a candle in an uptrend
  • white body
• Second candle
  • white body
  • the low above the prior high (gap)
• Third candle
  • black body
  • the opening price within the prior body
  • the closing price above the first line closing

The Upside Tasuki Gap is a three-line bullish continuation pattern belonging to the tasuki patterns family.

Its first line appears as a long line in an uptrend, having a white body.

The second line may appear as any white candle, either as a long or short line. A price gap exists between first two lines.

The third line may be any black candle (except doji candles) which opens between prior opening and closing prices. It closes below the prior opening price, however, is not closing the price gap between the first and second line.

The Upside Tasuki Gap should be confirmed, that is candles following its occurrence should close above second line's closing price.

The second and third line of the pattern may form the Bearish Tasuki Line acting as a bearish reversal pattern. Therefore considering the market context is very important.

Figure 2. An Opening Black Marubozu basic candle stops the bulls and forms a significant resistance area. Around two weeks later the bulls are trying to regain control. They manage to break the trendline, and an Upside Tasuki Gap is formed. Although it is a bullish continuation pattern, the bulls still need to break the resistance zone formed by the Opening Black Marubozu. Finally, the bulls control the stock.

Figure 3. An Upside Tasuki Gap is not confirmed. An appearance of the Black Candle is putting the bulls in an even more difficult situation.

Upside Tasuki Gap statistics

Below you can find some Upside Tasuki Gap pattern statistics calculated by CandleScanner software.