Bearish Meeting Lines
Bearish Meeting Lines is a technical analysis pattern that is used to identify potential reversals in a downward trend. It is formed when two candlesticks with the same closing price meet. The first candlestick is usually a bearish candle, while the second is a bullish candle. This pattern is considered to be a strong indication that the downward trend is about to reverse and the price will start to move up.
History of Bearish Meeting Lines
The Bearish Meeting Lines pattern was first described by Japanese analyst Goichi Hosoda in the 1930s. He called it the “Kirikomi” pattern, which translates to “cutting” in English. The pattern was later popularized by Steve Nison in his book “Japanese Candlestick Charting Techniques”. Since then, it has become a popular tool for technical analysts to identify potential reversals in a downward trend.
Comparison Table
| Pattern | Closing Price | Indication |
|---|---|---|
| Bearish Meeting Lines | Same | Reversal of Downward Trend |
Summary
Bearish Meeting Lines is a technical analysis pattern that is used to identify potential reversals in a downward trend. It is formed when two candlesticks with the same closing price meet. The first candlestick is usually a bearish candle, while the second is a bullish candle. This pattern is considered to be a strong indication that the downward trend is about to reverse and the price will start to move up. For more information about this pattern, you can visit websites such as Investopedia, TradingView, and StockCharts.
See Also
- Bullish Meeting Lines
- Bullish Engulfing Pattern
- Bearish Engulfing Pattern
- Bullish Harami Pattern
- Bearish Harami Pattern
- Bullish Three Inside Up Pattern
- Bearish Three Inside Down Pattern
- Bullish Abandoned Baby Pattern
- Bearish Abandoned Baby Pattern
- Bullish Piercing Line Pattern
