About Scanner: Bullish Counter Attack Candlestick Scanner

What is Bullish Counter Attack Candlestick ?

It involves two candles, one red & one green, with the same closing price, indicating an upward reversal.
It signals a likely reversal of the market's downward trend to an upward one. Sellers seem to lose control over the downward trend of the market or stock.

Key Points for Bullish Counter Attack :

• The first candle must be bearish with a long real body.
• The second candle must be bullish, closing equal to the previous close.
• The bullish counterattack must occur during a downtrend.

Bullish Counter Attack Trading Strategy:

• Identify the Pattern Reversal buy above the bullish candle’s high after a downtrend.
• Confirmation looks for increased volume or another bullish candle.
• Indicators use RSI or MACD for confirmation.

Warning

Bullish belt hold patternIn unstable markets may be less reliable and give misleading signs.

Target

Short term - At least height of the candle
Long term - Look at other aspects like volume spurt , recent support / Resistance levels and other technicals.

Stop Loss

set stop-loss below the candle’s low

TSR Bullish Counter Attack Scanner

• Set Alert as it happens
• Combine Bullish Counter Attack pattern with other Technicals/patterns with Fine Tune Filter Option
• Filter on Stock basket or your watchlist
• Back test to gain confidence on the Pattern.
• Filter on small ticks like 5 mins to Monthly tick
• Auto refresh

Fine Tune : You can customise these screeners by clicking on 'Fine Tune Filter' Option

Caution : All these screeners are crafted based on some historical scenarios which may / may notbe applicable here. We recommend to fine tune them according to current market conditions or seek expert advise before taking any decision.

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