After a continuous downward movement in price, a bullish green candle is formed covering 3/4th of the previous red candle along with its lower tail. A clear formation of Bullish Piercing candle stick pattern is observed.
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Hi sir,
For the Piercing pattern make sure the prior trend is bullish or bearish, here the trend is sideways.
Hi Vignesh,
Noted your point.. will ensure the there is a pronounced prior trend in all future analysis.
Thanks for pointing out my mistake.
Regards,
Mitesh