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Conditions: In a trailing market, if we expect to see market open way below below low and manage to cover more 50% of previous candle, with short upper head and volume is high on piersing day, then its good spot for long position
Buy@1350
Stoploss@1250
Target@1500(1.5 times of risk)
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Hi,
A bullish piercing pattern forms at the end of a bearish trend (minor downtrend) but your spot is already in a bullish rally….. Please refer the below screenshot
Thanks for pointing. Will redo the exercise.
Thanks,
Chris
Bullish piercing – Kotak Mahindra