Bullish Breakaway Candlestick Pattern is not very common, but pretty reliable candlestick downtrend reversal pattern. According to our research, a daily pattern predicts a bullish reversal in a downtrend with an accuracy of 79%.
Some traders don't start a trade until they see a reversal confirmation. Reversal is confirmed when the closing price of the candle following the pattern is higher than the closing price of the pattern. According to our data, the Bullish Breakaway Candlestick reversal confirmation makes the pattern reversal signal significantly more reliable and increases the Gain/Loss ratio.
|
Daily Patterns |
Weekly Patterns |
Frequency |
Very Low |
Low |
Appears in downtrend |
86% |
99% |
Reversal in downtrend |
79% |
99% |
Reversal in downtrend when parent trend is up |
99% |
99% |
Reversal in downtrend when parent trend is down |
54% |
99% |
Continuation in uptrend |
30% |
N/A |
Continuation in uptrend when parent trend is up |
99% |
N/A |
Continuation in uptrend when parent trend is down |
13% |
N/A |
Avg. Gain/Loss Ratio in Downtrend |
1.92 |
2.50 |
Avg. Gain/Loss Ratio in Uptrend |
0.12 |
N/A |