Homing Pigeon Bullish
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.