Piercing Line Candlestick Pattern, Definition
The Piercing Line Pattern is a bullish reversal pattern and the opposite of the Dark Cloud Cover.
This formation appears during a downtrend, with the first of two bear bearish (red or black) with a long body. 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.
