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Bullish Homing Pigeon

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Bullish Homing Pigeon

Bullish Homing Pigeon

The bullish homing pigeon (shita banare kobato gaeshi) candlestick pattern (view full size chart) is one of the double candlestick patterns (i.e. it consists of two individual candlesticks), and it is a bullish pattern.

The bullish homing pigeon candlestick consists of a downward candlestick (e.g. a red candlestick), followed by another downward candlestick that opens below the open of the previous candlestick, and closes above the close of the previous candlestick (i.e. is contained within the previous candlestick).

Use In Trading

The bullish homing pigeon pattern can occur in a number of different contexts (e.g. at the beginning of a trend, during a trend, at the end of a trend, etc.), but it is most relevant when it occurs during a significant downward trend. The bullish homing pigeon is a bullish pattern, but as it consists of two downward candlesticks, confirmation from a subsequent candlestick (e.g. bullish trading) is needed in order for the bullish homing pigeon pattern to be used as a trade entry or a trade exit pattern.

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