Dark Cloud Cover is a bearish reversal candlestick pattern in which a down candle (usually black or red) starts above the close of the previous up candle (usually white or green), then closes below the up candle's midway.
A piercing pattern is a two-day candlestick price pattern that indicates a possible short-term trend reversal from a downward to an upward trend. The first day of the pattern has an average or larger trading range and opens near the high and closes near the low.
When a trader notices a piercing candlestick chart pattern on a stock chart, he should hold off until the first candlestick's peak is followed by the prior bearish candle. When trading with the piercing candlestick pattern, this is an excellent trade setup. Stop loss should be set at the bottom of the previous bearish candle.
The Piercing candlestick pattern is the polar opposite of the Dark Cloud Cover pattern (which is a bullish reversal signal). Several conditions must be met in order to locate it: First, there must be a clear upward tendency.
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So it's mean that Trends are 3 types : i) Bullish (ii) Barresh (iii) Siteway
And Traders are i) position trader (ii) Swing Trader (iii) Day trader (iv) Scalper Trader
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