Viewing 5 posts - 11 through 15 (of 260 total)
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  • #7045
    kanakaraj
    Participant
    Rank: Level 4

    Piercing pattern can be identified by using candle sticks.

    The candle body should cover the previous day low and at-least 50% mark of previous day top. The upper tail should not be very big.

    When price goes below today’s lowest point, we should sell, when price goes the previous day’s highest point we should buy.

    #7157
    KRISHNA KUMAR MS
    Participant
    Rank: Level 4

    Piercing pattern is a variation of engulfing pattern
    the stock may be in a stream of DOWN or up trend.
    bear candle appears as per the existing down trend on the first day
    the next day is a BULL candle which opens BELOW the bottom of the first day bear candle but CLOSES above the half of the body of the first day bear candle
    volume must be high on the piercing day ie on the bull candle day
    IF( on the next day) the price moves UP above the top of the two (bear and bull)candle then BULLISH trend is confirmed
    BUY WHEN above CONDITION is satisfied (STOP LOSS at BOTTOM of the piercing(bull)candle and target at least same or more of the stoploss.

    #7552
    Ravishankar
    Participant
    Rank: Level 2

    Piercing pattern is slightly similar to Engulfing but it indicates trend reversal which is good for weekly traders

    The Green body should cover the previous day low

    The green body should cover at least 50 % for previous day Red body

    The upper tails should be small size

    Above the previous day(Black) tail

    Stop loss below the current tail

     

    #7575
    logawin
    Participant
    Rank: Level 3

    If the Body covers the Previous day’s Low.,

    Today’s Body should Cover At Least 50% of Previous Body.,

    BUY => When it’s Bullish reversal.,

    &

    SELL => When it’s Bearish reversal….!

    #7697
    Vinoth Kumar
    Participant
    Rank: Level 4

    Body should Cover Previous low at least by 50%. Upper Tail should not be very Big. Buy – When Bullish Reversal. sell – Bearish Reversal.

Viewing 5 posts - 11 through 15 (of 260 total)
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