Price Action: How to trade the descending hawk pattern and homing pige...

 



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Indicators:
EMA 3 (blue)
EMA 20 (yellow)
EMA 50 (orange)
EMA 100 (red)
EMA 200 (purple)

Bollinger Band Period 20 Deviation 2 (green)
Bollinger Band Period 20 Deviation 1 (white)


The homing pigeon is an interesting name for a candlestick. Many traders also like to pair the bullish homing pigeon with momentum indicators, which are helpful in spotting when downtrends are losing momentum. Traders should wait for the high of the first candlestick in the homing pigeon pattern to be exceeded prior to taking a long position. The Homing Pigeon is the same as the Harami, except for the color of the second unique Flash Cards will allow you to be "trading like the Pro's" in no time. Homing Pigeon is a two candlestick bullish reversal pattern. The formation occurs during a downtrend with a large black candlestick, followed by a small black candlestick.

The Homing Pigeon is the same as the Harami except for the color of the second day’s body. The pattern is composed of a two-candle formation in a downtrending market. Both candles are the same color as the current trend. The first body of the pattern is a long body, the second body is smaller. The open and the close of the second day occurs inside the open and the close of the previous day. Its presence indicates that the trend is over.

The descending hawk is the same as the Harami except for the color of the second day’s body. The pattern is composed of a two-candle formation in a uptrend market. Both candles are the same color as the current trend. The first body of the pattern is a long body, the second body is smaller. The open and the close of the second day occurs inside the open and the close of the previous day. Its presence indicates that the trend is over.