Bullish Counterattack Candlestick Pattern – School
What is the Bullish Counterattack Pattern
The Bullish Counterattack pattern indicates the upcoming bullish reversal in the market. This candlestick pattern consists of two candles that must be mainly made of a true body.
Understanding the Bullish Counterattack Pattern
The Bullish Counterattack pattern consists of two candlesticks.
The first candlestick indicates that the market is still in a strong downtrend. This candlestick must be mainly a long true body.
The second candlestick is also long and closes near the close of the first candlestick.
This pattern is similar to the On-Neck pattern but requires a further one or two bullish candles continuing upwards to confirm the bullish reversal.