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.
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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
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 ..