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Trading and Investment Terminology

piercing pattern

The piercing pattern is a candlestick pattern formed near the support levels gives us potential bullish reversal signs.

 

It is found towards the end of a downtrend and is quite similar to the dark cloud cover.

 

The only difference is that dark cloud cover signals a bearish reversal where piercing pattern signals a bullish reversal.

Define

A piercing pattern is a bullish reversal pattern that can be found at the end of a downtrend.

  • This candlestick pattern is used as an indicator to enter a long position or exit the sell position.
  • The piercing pattern is when the Bulls and Bear are fighting to gain control over the prices.
  • The piercing pattern is of two candlesticks.
  • The first candlestick should be a red candlestick having a large real body 
  • The second candlestick should be green in color and also should below the low of the previous candlestick

 

 

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