Piercing Candlestick Chart Pattern

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Piercing candlestick chart pattern is a bullish reversal candlestick chart pattern. It is usually seen in a down trend.

If you see Piercing candlestick chart pattern and its all conditions are met, then you can expect for a reversal.

Its reliability is moderate level.

To recognize it, You have to give emphasis on its gap and the second bullish candle.

However, Be patience. You know, in Forex trading, Patience is the main virtue. There are some basic things for Forex trading about patience. You will find its in our other section.

Now give the chance to your eyes to recognize piercing candlestick chart pattern.

Direction:-- Bullish or Up trend

Type of this pattern: Reversal


Reliability on this pattern: Moderat
e


The first day will be a bearish candle. The second candle will open with a gap down. The second candle will close above the mid point of the first bearish candle.

If you found this pattern in your chart, You may expect for bullish reversal.

You can take an entry according to the signal. But our advice is here, take also another confirmation from another source.

If it is confirmed by another indicator or other tool, Your entry will be more probability trading set up.

Now see it in a chart below.

 

Major Factors About Piercing Candlestick Chart Pattern...

1. A nice down trend.
2. A bearish candle.
3. A gap down.
4. The bearish candle which started with a gap down, closed above the mid point of the first bearish candle. 
5. Try to find out this in you chart also.  


 

 
                                         Candlestick Chart Patterns                                   
01 How to Read A Candlestick Chart                                                            
02 Bearish Engulfing
03 Bullish Engulfing
04 Doji
05 Dragonfly Doji & Gravestone Doji
06 Piercing Pattern
07 Morning star
08 Dark cloud cover
09 Hammer
10 Hanging Man
11 Harami
12 Inverted Hammer
13 Evening star
14 Shooting star
15 Tweezers Top
16 Tweezers Bottom
17 Windows
16 The Last Discussion on Japanese Candlestick Chart