๐ขPowerful Candlestick Patterns:๐ฃ๐ฎ๐ฟ๐-10
๐๏ธ10. Piercing Line
๐นThe piercing line candlestick pattern is a bullish reversal pattern. A piercing line pattern is generated when a bullish candle that hasย opened below the low of the bearish candle closes above the midpoint of the previous candle.
๐นThe piercing line patternย is a signal of a potential bullish reversal in the market. The initial bearish candle represents a period of selling pressure, but the subsequent bullish candle that opens below the previous candleโs low and closes above its midpoint indicates a strong resurgence of buying interest. This suggests that the bears have been unable to maintain their dominance, and the bulls are now taking control of the market.
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