Bullish Mat Hold - Candelstick Continuation Pattern

Bullish Mat Hold Definition

The bullish mat hold is a variation of the rising three methods.  The formation is comprised of 5 candlesticks.  The bullish mat hold is an extremely bullish setup due to its complexity and rarity.   This pattern is most powerful when it occurs in the context of primary up trend.

Bullish Mat Hold Setup

Below are the details of the candlestick structure for the bullish mat hold formation:

1. The first candlestick in the formation is a long green candlestick
2. The second day gaps up with a lower close
3. The third and fourth days continue to retrace gains from the first candlestick with light volume
4. The fifth candlestick is a large green candlestick which makes a new high