Bullish Piercing Line

The Piercing Line Pattern is a bullish Japanese Candlestick reversal pattern and the opposite of the Dark Cloud Cover pattern.

This formation appears during a downtrend, with the first candle long bodied and bearish (red or black). The following trading day prices open at a new low, but trade higher and close at a level where the candle reaches above the midpoint of the prior day’s body.

Bullish Piercing Line Japanese Candlestick Pattern