A constant price fall is identified and the last red candle is pierced by a green candle at the 50% equivalent level, with a shorter top shadow. As the trend is reversing, take a Long position at point A (1210.4), which is the high of the two candles, Stop loss is set at point B(1174.0), which is the low of the piercing candle. the target is set at point C (1246.8), which is Point A + risk taken. the target was reached in 4 days.
ACC – BULLISH PIERCING
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Stock Analysis
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Bullish View
Bearish View
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Hi,
It’s an improper piercing.
Green body should be cover the previous day low and the higher tail should be low.
Understood the error now. I had assumed, if the body is covered its well and good. Thank you for the correction, Will follow it in future analysis.