Candlestick Patterns | Bullish Meeting Lines

Bullish Meeting Lines

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.

How to identify

  1. 1st day is a long red day.
  2. 2nd day is a long white day and closes at the 1st day’s close.

Psychology

A down day followed by an up day that closes at the previous day’s close gets traders to bet on a reversal.
It’s probably a good idea to wait for confirmation of the downtrend. This would be a higher close the next day.

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