Improve Your Market Timing: The Bullish Meeting Lines Candlestick Pattern
July 31st, 2010 | 
Author: - Bullish Meeting Lines is similar to a Piercing Line in that the stock gaps in the direction of the prevailing bearish trend and then reverses.
- The Piercing Line is more bullish because it closes at least half way into the prior session’s bearish candle after gapping down; while the bullish Meeting Lines candle merely closes at or near to the close of the bearish candle.
- The Meeting Lines pattern is considered stronger if both the bearish and bullish candles are relatively long real bodies.
- There should be little or no wicks at the point where the two candles meet.
- This pattern needs confirmation with a bullish follow through candle the next session.
- As always, increased volume will confirm that the bulls have stepped in at this level and that lower price levels have been rejected.
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