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Bullish Piercing Line
Posted By: TradersLog
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.
For a complete printable reference see also: Japanese Candlesticks PDF Ebook
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