Courtesy of Market Tamer
- 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.
The Market Can’t Make Up Its Mind
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