Is the Homing Pigeon Pattern Useful for Intraday Trading?
I mostly trade intraday price movements and noticed the homing pigeon candlestick appearing on 15-minute and 30-minute charts during downtrends. The pattern suggests a possible reversal, but I am unsure if it works well in shorter timeframes. Does anyone here use the homing pigeon pattern for intraday reversal setups? If so, what indicators do you pair it with? Volume spikes, VWAP, or momentum oscillators? Understanding the context seems more important than the pattern alone. Looking for tips from intraday traders who have tried this.