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Bearish piercing pattern also known as Dark Cloud Cover is a bearish reversal pattern & it’s location is important. It is very effective when spotted after a good rally in price can play-out for a month giving higher rewards. It is a two candlestick pattern of which the second bearish candlestick must open above the high of previous bearish candle and must close below the 50% of the range of first / previous candlestick of the pattern.
| M | T | W | T | F | S | S |
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| 1 | 2 | 3 | 4 | 5 | 6 | 7 |
| 8 | 9 | 10 | 11 | 12 | 13 | 14 |
| 15 | 16 | 17 | 18 | 19 | 20 | 21 |
| 22 | 23 | 24 | 25 | 26 | 27 | 28 |
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Bearish-GAP-SHORT-BICON-25-10-2019 October 25, 2019
FEDERAL BANK – BEARISH ENGULFING October 17, 2019
Cummins India – Bearish Engulfing – 24Sep19 September 25, 2019
Day29-Tata Motors DVR – Bearish Piercing – 12Sep19 September 12, 2019
Day27-Bearish-Engulfing pattern-Tech Mahindtra-09Sep19 September 10, 2019
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Hi,
The prior trend is sideways movement.
Very true. Noted, shall check for that hereafter, Thank you.
Price did rally from 140 to 170 levels before the pause / sideways movement.
The prior rally for the bearish piercing pattern should be bullish.
Thank you.
Yes, price did take a pause. Also, there was a failed Bearish Engulfing before formation of bearish piercing pattern.
Kindly refer to the IndusInd bank chart now attached. Gave good Targets in just 2 sessions ..