Meeting Lines Bearish
Pattern: Reversal
Trend: Bearish
Reliability: Moderate
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How to
Identify it
- The first day is a
long white day, and has a body that is above the
previous trend
- The second day is a
long black day, and has a body that is also above the
previous trend.
- Both days have
identical closes
What it
Means
In an uptrend two days open
above the previous trend. Even though the second day opens
high, it rallies to close at the close of the previous day.
This typically means a benchmark has be defined by traders,
and a reversal is likely. The bearish Meeting Lines pattern
is similar to, but less reliable than the Dark Cloud Cover
pattern.
