Bullish Counter-Attack Lines

 

As the name suggest, Bullish counter-attack lines is a bullish trend reversal pattern.

Bullish Counter-attack lines is a two-candle pattern that appears in the downtrend. The first candle is a bearish candlestick pattern and the second candle is a bullish candlestick formation. The closing price of both the candlestick patterns are same.

Theoretically, the closing price of both the candlestick formations should be the same in this pattern. Practically, we must allow the marginal difference between both and focus on the essence of the pattern.

Higher volume in the second candle of the pattern indicates more bullishness. The trend is expected to reverse to bullish trend after forming the Bullish counter-attack lines pattern. The pattern needs more technical confirmation. Price remaining above the body of the second candle of the pattern indicates more bullishness.

Click here to know more about the pattern.

This pattern can be plotted on the chart by adding it from the study menu in TradePoint & RZone. The pattern is also available in the system builder section. By combining this pattern with other patterns and indicators, you can create your own trading strategies. For any group of stocks and market segments, you can scan and backtest stocks based on those strategies.

Open Demat Account