Piercing Line

 

There are different types of Piercing patterns. All types are bullish reversal.

Piercing Line consists of a long black candlestick followed by a long white candlestick that opens lower than the black one's low, but closes more than halfway into the black body.

This is the opposite of a Dark Cloud Cover.

 

Recognition Criteria:

·       DownTrend

·       First line is Long Black

·       Second line is Long White

·       Second line's opening price is lower than the first line's low price

·       Second line's closing price is higher than the first line's half body

Function: ThrustingLine()

Trend: Bullish

Type: Reversal