PIERCING LINE - CANDLE FORMATION (BULLISH REVERSAL)

15 thg 6, 2016

Consists of 2 candlesticks where the first candle is a down candle.
Both candles should have fairly large bodies and small or non-existent
shadows. The second candle is a bullish candle that closes above the
midpoint of the first candle.

NOTE:

• This is only a valid formation when at a key level of support and I like to see a new low on the second candle.
  

TRIGGER:

• Like the dark cloud cover, I don't often use this formation for a trigger into a trade but rather for confirming a bullish reversal.