Bullish Meeting Lines: Bullish Reversal Pattern

Bullish Meeting Lines pattern is a bullish reversal pattern. It takes place in a downtrend.

August 24, 2011 / 11:01 IST

Bullish Meeting Lines pattern is a bullish reversal pattern. It happens in a downtrend. In this pattern, first candle is black, correlating the ongoing downtrend. Second candle opens at a new low, but closes at previous day's closing level.

Strategy: Traders can take long position only after the high of the first candle is exceeded. Stop loss should be placed below the low of second candle.

first published: Aug 18, 2011 05:36 pm

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