Piercing Line Reversal
Updated
A PIERCING LINE has formed on 
REM.
A piercing line is defined by the following:
- After a preceding downtrend,
- Green opens below previous days close, and closes above 50% of the real red body.
- Bottom reversal signal
- Candles must be different colours.
Because of this, along with the upward channel that it has been trading in, I entered a long position on opening this morning.
REM.A piercing line is defined by the following:
- After a preceding downtrend,
- Green opens below previous days close, and closes above 50% of the real red body.
- Bottom reversal signal
- Candles must be different colours.
Because of this, along with the upward channel that it has been trading in, I entered a long position on opening this morning.
Trade closed: stop reached
Unfortunately it plummeted yesterday and took us out at our stop loss.
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