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Nikita (SEBI RA)

15th Oct ยท SEBI-Registered Analyst

Homing Pigeon โ€“ Bullish Reversal ๐Ÿ•Š๏ธ

๐Ÿ“Š The Homing Pigeon is a 2-candle bullish reversal pattern often seen after a decline. โœ… Formation: 1๏ธโƒฃ First โ†’ Large red candle. 2๏ธโƒฃ Second โ†’ Smaller red candle fully contained within the first candleโ€™s body. โœ… Meaning: Selling pressure is weakening โ†’ possible reversal. ๐Ÿ“Œ Example: Stock falls โ‚น520 โ†’ โ‚น480, then prints smaller red inside previous red, closing โ‚น485 โ†’ Homing Pigeon โ†’ bullish reversal signal. ๐Ÿง  Rule: Stronger if it forms at support or oversold levels.

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