Candlestick Patterns

Counterattack Bullish

The Counterattack Bullish is a bullish reversal pattern represented by two candles. During a downward trend, a first decreasing candle with a long body and short wick, is followed by a second candle heading upwards and closing near the first candle’s close. As the name suggests, the pattern represents a bullish counterattack. During a downtrend, a green candle with medium-long body forms and closes at the same level as the previous candle. The long green candle means that the bulls have strongly rejected the downtrend, probably due to the price has reached a support and the price can go up. This pattern is likely to lead to a new uptrend or a pull-back. Therefore, if selected in your strategy, it would open a position.

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