【candlestick classroom】 Meating lines (Counterattack Lines) Pattern, etc

wsjboy

Meeting Lines (or Counterattack Lines) are formed when opposite colored bodies have the same closing price. The first Candlestick body is the same color as the current trend. The second body is formed by a gap open in the same direction as the trend. However, by the close, it has come back to the previous day's close. The Bullish Meeting Line has the same criteria as the Piercing Line except that is closes the same close as the previous day and not up into the body. Likewise, the Bearish Meeting Line is the same as the Dark Cloud pattern, but it does not close down into the body of the previous day.

Criteria :

1. The first candlestick body should continue the prevailing trend.
2. The second candlestick gaps open continuing the trend.
3. The real body of the second day closes at the close of the first day.
4. The body of the second day is opposite color of the first day
5. Both days should be long candle days.

wsjboy

wsjboy

a counter example from Thomas N. Bulkowski

wsjboy

These are weak patterns, confirmation is required!!!!!


No action before confirmation!

live111

wnd4

thanks

wsjboy

on-going, need further confirmation

wsjboy

The black and white bars were not long enough. Is it qualified as Bullish Meeting Lines? I don't know.