< Japanese Candles >
* Bullish Japanese Candle Models* No. 5 👇
5 - Bullish Piercing Yen Model 👇
This candle is similar to the bullish engulfing candle, but the close of the bullish candle is within the body of the bearish candle. The price falls in the first candle, then the price opens below the close of the bearish candle, and preferably also below the price of the lowest bearish candle. After that, the price rises and the second candle closes on an upward trend above the closing level of the bearish candle, and it is preferable for the close to be above 50% of the body of the bearish candle. The following image shows the candle
This candle is good to show the possibility of a return to the rise in price, and it is preferable that it comes after a downward trend, but it is also possible to notice this candle during upward trends, indicating the possibility of continuation in the upward trend and the failure of a downward correction.
