Improve Your Market Timing: The Bearish Meeting Lines Candlestick Pattern
August 7th, 2010 | 
Author: - Bearish Meeting Lines is similar to a Dark Cloud Cover in that the stock gaps in the direction of the prevailing bullish trend and then reverses.
- The Dark Cloud is more bearish because it closes at least half way into the prior session’s bullish candle after gapping up; while the bearish Meeting Lines candle merely closes at or near to the close of the bullish candle.
- The Meeting Lines pattern is considered stronger if both the bullish and bearish 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 bearish follow through candle the next session.
- As always, increased volume will confirm that the bears have stepped in at this level and that higher price levels have been rejected.
- The Bearish Meeting Lines pattern is not seen that frequently.
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The Market Can’t Make Up Its Mind
The market is looking to break out of an increasingly narrow trading range. I feel that we may first consolidate a bit more before the markets decides what it want to do. So, be on your toes and have your targets in mind when the indexes start to trend. For more information, please visit Options Revolution.
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Improve Your Market Timing: The Bullish Meeting Lines Candlestick Pattern
- 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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Improve Your Market Timing: The Tweezers Top Candlestick Pattern
- The Tweezers Top consists of at least two candles with close to identical highs and derives its’ name from the resemblance to a pair of tweezers.
- I like to see wicks on both candles to the topside rejecting higher price levels.
- The classic Tweezers Top should have a longer bullish candle for the first candle followed by a smaller real body; although that configuration is not a hard fast rule.
- The Tweezers Top is more credible in longer timeframes such as weekly and monthly charts.
- The Tweezers Top should be followed by a bearish confirmation candle on increasing volume.
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