The piercing line candlestick pattern is a bullish candlestick pattern that forms after an extended bearish trend. It can be used as an indicator to predict the resumption of the uptrend as it shows ...

Gordon Scott has been an active investor and technical analyst or 20+ years. He is a Chartered Market Technician (CMT). A piercing pattern is a two-day candlestick pattern that signals a potential ...

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USD/CAD’s most recent Piercing Line pattern has failed to find confirmation from a successive up-day. This is unsurprising given the pair’s tendency towards violent intraday whipsaws. This further ...

Breach of 0.7730 Needed Open ’12 Low Near 0.7450 NZD/USD has been propelled higher after a Piercing Line pattern suggested the bulls were looking to return. Yet, within the context of a broader ...

EUR/GBP sold off to just below 0.8400 as its downtrend unfolds. It has formed a bullish Piercing Line Japanese candlestick reversal pattern indicating the potential for a correction higher. The pair ...

The NZD/USD has resumed its journey lower in recent trade, which in turn has negated a Piercing Line pattern on the daily. As noted in recent reports the potential for a sustained recovery was ...

GBP/USDhas bounced off key support at 1.6820 after posting some modest declines on the back of a Harami candlestick pattern. The recovery appears to be forming a Piercing Ling pattern which would be ...