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.
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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.
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posted by Daniel Pipitone at
5:38 AM
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