What Happens in XAUUSD after a Piercing Line XAUUSD Candles Pattern?

Piercing Line candles pattern setup is a long black body followed by a long white body candlestick.

White body pierces the midpoint of the prior black body.

Piercing Line candles pattern setup is a bullish reversal xauusd setup that occurs at the bottom of a market downward trend. It shows that the market opens lower & closes above the midpoint of the black body.

Piercing Line candlesticks pattern setup highlights that momentum of the down trend is reducing and the market trend is likely to reverse and move in an upwards direction.

Piercing Line candles pattern setup is displayed referred to as a piercing line signifying the market is piercing the bottoms showing a market floor for the price downward trend.

What Happens in XAUUSD after a Piercing Line XAUUSD Candles Pattern?

Analysis Piercing Line Candlestick - Candles Pattern

A bullish reversal buy signal is confirmed once price closes above neckline which is the opening of the candlestick on the left of the Piercing Line candle.

Piercing Line candle setup is a candles pattern setup which is bullish & price should continue moving upward & for a trader who puts a buy trade should place a stoploss order just below the lowest price zone.