Bullish Homing Pigeon

The Bullish Homing Pigeon is a double candlestick pattern that represents a potential reversal in a downward market. In traditional technical analysis the Bullish Homing Pidgeon would be recognized as an "inside day".

Bullish Homing Pigeon

The Bullish Homing Pigeon candlestick pattern represents a potential reversal in a downward market. In traditional technical analysis the Bullish Homing Pigeon candlestick pattern would be recognized as an "inside day".


Bullish Homing Pigeon Identification

The Bullish Homing Pigeon candlestick pattern starts with a bearish trend concluding with two bearish candlesticks. The first is a large body candlestick;  this is followed by a much smaller candlestick whose body is located within the vertical range of the larger candlestick's body. 

Bullish Homing Pigeon candlestick pattern

Bullish Homing Pigeon Interpretation

The Bullish Homing Pigeon candlestick pattern indicates that there is a weakening of the current downward trend.  If the prior downtrend is severe, then the technical trader may consider entering a long position provided there is confirmation such as a subsequent gap up or a long bullish candlestick.

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