Piercing Line candlestick pattern

Piercing Line

Piercing Line is a bullish trend reversal candlestick pattern made up of two bars.
How to Identify:

• The 1st bar is long and bearish and continues the downtrend;
  
• The 2nd bar is bullish;
  
• The Open price of the second bar is less than the first bar's Low price, its Close price is in the upper half of the previous bar.
   
  

We use our proprietary data-mining algorithm to capture specific price movement and pattern performance.
Under certain circumstances, a Bullish pattern can also perform as a Bearish pattern, and a reversal pattern can be changed into a continuation pattern.

If you want to find out the performance of this pattern in real market, not in theory, our data mining results are your must have reference.

• Piercing Line Pattern data mining result (2014 Daily, Bearish continuation)

• Piercing Line Pattern data mining result (2014 Daily, Bullish reversal)

• Piercing Line Pattern data mining result (2014 Monthly)

• Piercing Line Pattern data mining result (2014 Monthly, Bullish reversal)

• Piercing Line Pattern data mining result (2014 weekly, Bearish )

• Piercing Line Pattern data mining result (2014 weekly, bearish continuation)

The following pictures are taken from our Candlestick Pattern Indicator (Thinorswim version).