What's a Piercing Line Candle-stick in XAU USD Trading?
What Does Piercing Line Candle Mean? Piercing Line Candle Definition
Piercing Line candles setup pattern is a long black body followed by long white body stick.
The white body pierces the midpoint of the previous black body.
Piercing Line candles set-up is a bullish price reversal setup that forms at the bottom of a market down-wards trend. It shows that the market opens lower & closes above the mid-point of the black body.
Piercing Line candles setup highlights that the force of the down trend is reducing/decreasing and the price trend is likely to reverse & move in an upwards direction.
Piercing Line candle-sticks pattern is pictured referred to & known as a piercing line signaling that the market is piercing the bottom illustrating a market floor for price downwards trend.
What is Piercing Line Candle-stick in Gold Trading? - Piercing Line Candle Pattern
Analysis Piercing Line Candle-stick - Candles Pattern
A buy signal is confirmed once gold trading price closes above the neck line which is the opening of the candle on the left of the Piercing Line candlestick.
Piercing Line candle pattern formation is a candlesticks pattern bullish setup and trading price should continue moving upwards & for one who puts a buy trade should put a stop loss order just below the lowest xauusd trading price zone.
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