Strike Back – Bearish

Developed by Definedge.

Bearish Strike Back is a bearish pullback Renko pattern.

Point A is the bullish swing breakout; Point B is the bearish brick reversal that forms the swing high; and Point C kicks off the price moving back below Point A, the level where the prior bullish swing breakout pattern was completed.

Prashant Shah introduced this pattern in his book on Renko Charts.

Click here to know more about the pattern.

This pattern can be plotted on the chart by adding it from the Add study menu in TradePoint & Patterns in RZone. The pattern is also available in the System Builder section. By combining this pattern with other patterns and indicators, you can create your own trading strategies. For any group of stocks and market segments, you can scan and backtest stocks based on those strategies.