Glossary Term

Upside Tasuki Gap

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Also known as a Bullish Tasuki Gap, an Upside Tasuki Gap is a candlestick pattern that technical traders use as a signal of bullish continuation in a market. The setup goes as follows: As part of an already established uptrend you see a large upward-candle followed by a second one that gaps-up from the close of the first. Finally, to complete the pattern, a large down-candle that opens within the real body of the second candle and closes below it. An important thing to note is that the third down-candle fails to completely close the gap between the first and second candles. This shows that while bears entered the market at the top of the uptrend, their activity wasn’t sufficient to extinguish the upside momentum of the bulls.

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