Homing Pigeon Bullish

 

Pattern: Reversal Trend: Bullish Reliability: Moderate

 

How to Identify it

• The first day is a long black day
• The second day is a smaller black day that is within the body of the first day

What it Means

In a downtrend, the bears continue to have their way. However, the second day opening and closing within the body of the first day suggests an erosion of the downtrend. Ensuing sell-offs, followed by buy-ins could result in a bullish reversal.