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| The Piercing Candlestick Pattern |
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| Written by Al Parsai | |
| Tuesday, 10 February 2009 | |
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Piercing is a bullish candlestick pattern. This formation consists of two candles. The first candle is bearish and the second one is bullish. The open of the second candle is below the low of the first candle but its close remains somewhere in the middle of the real body of the first candle (see image).
This pattern when appears at the bottom of a downtrend is a strong reversal sign.
The bearish counterpart of the Piercing pattern is Dark Cloud Cover.
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| Last Updated ( Saturday, 28 February 2009 ) |
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