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Is It Time For A Correction?

Courtesy of Market Tamer

Improve Your Market Timing:  The Piercing Line Candlestick Pattern

  • The Piercing Line pattern is a two session pattern found in a bearish market.
  • The pattern is most effective when found at a level of pre-defined support such as a double bottom or a major moving average.
  • The candle will gap down and then proceed to trade up and close past the half way point of the previous bearish candle.
  • The pattern is even more convincing as a reversal when the stock recovers from a significant gap to the downside and trades up with increased volume.
  • The pattern is very similar to a Bullish Engulfing pattern but is not quite a bullish.

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S&P 500

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Sign up today for an exclusive discount along with our 30-day GUARANTEE — Love us or leave, with your money back! Click here to become a part of our growing community and learn how to stop gambling with your investments. We will teach you to BE THE HOUSE — Not the Gambler!

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