What is Bearish Meeting Lines: Bearish Reversal Pattern?
Bearish Meeting Lines pattern is a bearish reversal pattern. It takes place in an uptrend. In this pattern, first candle is green, correlating the ongoing uptrend. Second candle opens at a new high, but closes at previous day's closing level.
Traders can initiate short positions only after the low of the first candle is exceeded. Stop loss can be placed above the high level of the second candle
Traders can initiate short positions only after the low of the first candle is exceeded. Stop loss can be placed above the high level of the second candle
