The chart showing Series 1 series.
To see the performance of the pattern in your stock exchange in the context of other stock markets please examine the table below. Find your stock market there and see how it ranks among the others. This will give you an idea about the pattern’s strength and reliability and help you in your buying decisions.
This is a bottom reversal pattern with two candlesticks. A black candlestick appears on the first day while a downtrend is in progress. The second day opens at a new low, with a gap down and closes more than halfway into the prior black body, leading to the formation of a strong white candlestick.
Recognition Criteria
1. The market is characterized by a prevailing downtrend.
2. A black candlestick appears on the first day.
3. A white candlestick opens on the second day with a gap down and closes more than halfway into the body of the first day.
4. The second day fails to close above the body of the first day.
Pattern Requirements and Flexibility
The first day of the Bullish Piercing Line pattern is a normal or long black candlestick. The second day should open well below the close of the first day and close more than halfway into the prior black candlestick’s body. However, the close of the second day must stay inside the body of the first day.
Trader’s Behavior
The market moves in a downtrend. The first black body reinforces this view. The next day the market opens lower via a gap, showing that the bearishness still persists. After this very bearish open, bulls decide to take the lead. The market surges toward the close, prices start to go up resulting in a close way above the previous day’s close. Now the bears are losing their confidence and are reevaluating their short positions. The potential buyers start thinking that new lows may not hold and perhaps it is time to take long positions.
Buy/Stop Loss Levels
The confirmation level is defined as the last close. Prices should cross above this level for confirmation.

The stop loss level is defined as the last low. Following the BUY, if prices go down instead of going up, and close or make two consecutive daily lows below the stop loss level, while no bearish pattern is detected, then the stop loss is triggered.
Pattern Performance in Stock Exchanges since 1/1/2014
Stock Exchange
Per Trade
Total Net%(Descending)
CanadaCSE 2513552.0038.4615.385.2310.15
ArgentinaBUE 1561086769.2362.047.901.016.89
IndiaBSE 90535646346562.3761.376.611.195.42
IndiaNSE 67014355283664.9965.126.080.865.22
ChinaSZSE 101287625555475.2972.845.480.744.74
ChinaSSE 69455136370073.9572.045.380.664.72
RussiaMICEX 66243727666.0163.165.560.934.63
USOTC PINK 47502815137659.4148.766.912.544.37
South KoreaKOSDAQ 60693899251864.2464.585.160.804.36
Saudi ArabiaTADAWUL 90957437563.1565.334.600.753.85
BrazilBOVESPA 117975348463.8764.284.560.723.83
Hong KongHKEX 56933419190660.0655.754.931.223.71
South KoreaKRX 54043473214164.2961.634.280.713.57
JapanSAPPORO 52140.0050.004.501.003.50
SwedenSTOCKHOLM 1878119970163.8458.474.440.983.46
TaiwanGTSM 2285134181458.6960.704.280.843.44
JapanFUKUOKA 137453.8557.144.571.143.43
USNASDAQ 1540010161630466.0661.974.370.943.43
USAMEX 1702103958461.0556.214.631.253.38
TurkeyBIST 92257735362.5861.184.150.843.31
The World 1630721076816736266.0562.544.080.843.24
NorwayOSE 60338622364.0157.774.401.283.12
KuwaitKSE 173944654.3448.944.491.393.10
OmanMSM 2012460.0033.335.082.003.08
IndonesiaIDX 68342324061.9356.743.980.953.03
PortugalLISBON 1641148269.5171.933.700.742.96
JapanTOKYO 119687750461764.7659.573.640.842.80
MalaysiaBURSA 134872540353.7855.593.801.032.77
USWARRANTS 56392369.6458.973.951.182.77
EgyptEGX 49432017064.7853.133.941.202.74
IsraelTASE 88161637869.9261.363.600.872.73
DenmarkCOPENHAGEN 45428315062.3353.003.560.842.72
SpainIBEX 54535520665.1458.033.160.682.48
TaiwanTWSE 33261960115258.9358.783.120.652.47
FrancePARIS 2273151697766.7064.453.100.662.44
QatarQE 1731096363.0157.803.150.722.43
AustraliaASX 2160141683265.5658.763.330.932.40
CanadaTSX 55293573212064.6859.283.070.762.31
BelgiumBRUSSELS 44031918572.5057.992.820.552.27
ItalyBORSA 29892038125668.3261.513.020.752.27
Austria WIENERBORSE 2071428668.6060.562.810.542.27
GermanyXETRA 37312592165069.4763.662.840.612.22
UKLSE 50753458212268.1461.363.030.842.20
SwitzerlandSIX 140295155267.8358.042.690.532.16
USNYSE 1900212743798167.0662.632.740.662.09
Greece ATHENS 2181347261.4753.733.841.762.07
JordanASE 128733157.0342.473.631.701.93
MexicoBMV 55636722566.0161.312.620.731.89
NetherlandsAMSTERDAM 75949531465.2263.432.460.581.89
JapanNAGOYA 81492260.4944.902.961.101.86
UAEUAE 1991205560.3045.833.271.491.78
CanadaTSX-V 53929211654.1739.734.773.141.63
TurkeyBIST 89593266.2954.241.580.271.31
SingaporeSGX 68838620056.1051.812.271.111.16
USPREFERRED 123182247366.7757.541.450.351.10
USOTCBB 3518851.4344.445.784.781.00
Austria WIENERBORSE 59372562.7167.570.890.110.78
FOREXFOREX 1611167572.0564.660.860.180.68
USAMEX 128884568.7551.140.480.270.20
Patterns Total: How many of this particular pattern has been detected in this period
Confirmed Total: How many of the detected patterns were confirmed and converted into signals
Profitable Signals: The number of the confirmed patterns that have given profitable trades
Confirmation %: The percentage of the confirmed patterns with respect to the total occurrences of this pattern
Profitable Signal %: The percentage of the successful confirmed patterns with respect to the total confirmed patterns
Per Trade Profit %: Total Profits / Total Trades
Per Trade Loss %: Total Losses / Total Trades
Per Trade Net%: (Total Profits–Total Losses) / Total Number of Trades
Samples: Live sample ticker symbols from stock exchanges with links to stock pages of the related bulls.com© family websites
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