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Bullish Homing Pigeon
| This pattern signals a trend... | How to identify... | Similar pattern(s)... | | Reversal | - 1st day is a long black day.
- 2nd day is a short black day which is engulfed by the 1st day's range.
| | Psychology...
The 2nd day shows a deterioration of the prior downtrend. If the prior downtrend is severe, then this offers the opportunity to exit short positions or initiate long positions.
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