Homing Pigeon โ Bullish Reversal ๐๏ธ
๐ The Homing Pigeon is a 2-candle bullish reversal pattern often seen after a decline.
โ
Formation:
1๏ธโฃ First โ Large red candle.
2๏ธโฃ Second โ Smaller red candle fully contained within the first candleโs body.
โ
Meaning: Selling pressure is weakening โ possible reversal.
๐ Example: Stock falls โน520 โ โน480, then prints smaller red inside previous red, closing โน485 โ Homing Pigeon โ bullish reversal signal.
๐ง Rule: Stronger if it forms at support or oversold levels.
RIIL
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