Piercing Bullish Candlestick Pattern – School
What is the Piercing Pattern?
The Piercing Pattern is a multiple candlestick chart pattern that forms at the end of a downtrend. After completing the final candlestick in this pattern, the market should become bullish. Which means that the pattern indicates a bullish reversal.
- The piercing pattern consists of two candlesticks
- The piercing is a bullish reversal trend pattern
Understanding the Piercing Pattern.
The Piercing Pattern is a candlestick chart pattern that is formed with two candlesticks. The first candlestick is bearish and indicates a continuing downtrend. The second candlestick is a bullish reversal candle that first continues in a downward trend before treading upwards and closing above more than 50% of the body of the first candle (image above).
Traders usually watch this pattern on a daily chart, which means that one candlestick represents one day. The first candle is bearish (red candle from the image above) representing a down day. The second candle is bullish (green from the chart above), this candle closes above 50 percent of the previous day.
Trading Education Media Kit
Learn what is the Piercing pattern media kit. You can use it for any project, or website or share it on social networks. Don’t forget to mention us as a source. Thank you.
