Today we seen a PEIRCING PATTERN on the candlestick charts .
The Piercing Pattern Candlestick is a reversal pattern however it is not as strong as a Bullish Engulfing pattern but it is still a reversal pattern .
A close at .028 would have created a Bullish Engulfing Pattern a particulary strong reversal pattern .
A Piercing Pattern..
The 50 % penetration level of the second green candle into the body of the first red candle is essential to fulfill the definition of this pattern which happened today .
This is a bottom reversal pattern thats lacks the power of the Bullish Engulfing pattern .
This pattern is usually only effective if it occurs during a uptrend where momentum will help to drive the Share price higher.
A good green day should see this stock trading back at .03 cents tommorrow.
rome wasn't built in a day., page-64
-
- There are more pages in this discussion • 2 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)