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Bullish Unique Three River Bottom


This pattern signals a potential trend...

Reversal


How to identify...
  1. 1st day is a long red day.

  2. 2nd day is red forming a Homing Pigeon.

  3. 2nd day's low sets a new low.

  4. 3rd day is a short white day which is below the 2nd day.
Similar pattern(s)...

» Bullish Homing Pigeon

Psychology...

The 1st day's long red candlestick enforces the bears position. The next day a new low is set, however it closes higher than the 1st day. The 3rd day produces some indecision on the part of the bears. Watch for the reversal confirmation of a new high on the next day.



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