Bearish Thrusting Candlestick Pattern
Bearish thrusting is a bearish trend continuation candlestick pattern indicating the continuation of an existing downtrend after a bullish day. It is a two candlestick formation which closely resembles bearish in-neck pattern and bullish piercing line pattern. Bearish thrusting is a weak candlestick pattern.
Requirements of bearish thrusting candlestick pattern include,
Bearish thrusting pattern is less reliable than bearish in-neck and on-neck formations. Confirmation of the trend continuation is required, which can be a bearish candlestick, a gap down opening or a lower close on the next trading day.
NobleTrading.com Offers Online Stock Trading, Online Options Trading
Online Futures Trading, Online Forex Trading
Worldwide Brokerage Service, Day Trading Brokerage
Requirements of bearish thrusting candlestick pattern include,
- The pattern should form in a downtrend.
- The first day is a long bearish day characterized by a black or colored candlestick.
- The second day is a bullish day characterized by a white or colorless candlestick which opens a gap below but closes within the real-body of the first day candlestick.
- The close of second day candlestick must not exceed the mid-point of the first day candlestick; if it exceeds the same, it forms bullish piercing line pattern - a strong bullish reversal formation.
Bearish thrusting pattern is less reliable than bearish in-neck and on-neck formations. Confirmation of the trend continuation is required, which can be a bearish candlestick, a gap down opening or a lower close on the next trading day.
NobleTrading.com Offers Online Stock Trading, Online Options Trading
Online Futures Trading, Online Forex Trading
Worldwide Brokerage Service, Day Trading Brokerage
posted by NobleTrading at
8:38 AM
<< Home