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 2112557.1441.6716.675.0011.67
ArgentinaBUE 145986467.5965.318.450.927.53
IndiaBSE 87425436336162.1861.836.721.195.53
IndiaNSE 65564237277664.6365.526.110.875.25
RussiaMICEX 62441426966.3564.985.800.874.92
ChinaSSE 67865015364973.9072.765.470.664.81
ChinaSZSE 99807522548575.3772.925.510.754.76
USOTC PINK 45572699131759.3448.716.992.554.44
South KoreaKOSDAQ 58323747242464.2564.695.160.814.36
JapanFUKUOKA 106460.0066.675.331.334.00
Saudi ArabiaTADAWUL 87754736162.3766.004.750.763.99
BrazilBOVESPA 114173346864.2463.854.590.743.86
Hong KongHKEX 55343317186359.9456.174.981.233.75
South KoreaKRX 52313362207464.2761.694.310.723.59
SwedenSTOCKHOLM 1795116168064.6858.574.550.963.58
JapanSAPPORO 52140.0050.004.501.003.50
USNASDAQ 149059839613466.0262.334.430.953.48
USAMEX 1646100356660.9456.434.731.253.47
TaiwanGTSM 2223130779358.7960.674.310.853.46
OmanMSM 1810355.5630.005.802.403.40
TurkeyBIST 89956634862.9661.484.200.823.38
The World 1581881044316554466.0362.764.120.843.27
NorwayOSE 58537421763.9358.024.481.303.18
IndonesiaIDX 67141323461.5556.663.980.953.02
KuwaitKSE 158854053.8047.064.491.493.00
PortugalLISBON 1631128068.7171.433.730.752.98
DenmarkCOPENHAGEN 43927214461.9652.943.610.832.79
JapanTOKYO 115127473447664.9159.903.620.852.78
USWARRANTS 54382270.3757.893.971.212.76
IsraelTASE 84358936469.8761.803.560.852.71
MalaysiaBURSA 130569938653.5655.223.731.042.69
SpainIBEX 53334220164.1758.773.310.682.62
EgyptEGX 48731516664.6852.703.781.212.57
FrancePARIS 2200147295366.9164.743.160.652.51
TaiwanTWSE 32311903111858.9058.753.100.652.45
AustraliaASX 2082136379565.4758.333.350.932.42
QatarQE 1691066162.7257.553.080.742.34
CanadaTSX 53193442204264.7159.333.090.772.32
BelgiumBRUSSELS 43131117972.1657.562.880.562.32
JordanASE 125713256.8045.073.761.492.27
Austria WIENERBORSE 2021408569.3160.712.790.532.26
UKLSE 48923337204868.2161.373.060.842.22
GermanyXETRA 36272520160669.4863.732.800.612.19
ItalyBORSA 29331991122668.0261.452.950.762.19
SwitzerlandSIX 135591953067.8257.672.730.542.18
USNYSE 1843512333772166.9062.602.780.662.12
Greece ATHENS 2111296961.1453.493.851.812.04
NetherlandsAMSTERDAM 73447930765.2664.092.520.581.94
UAEUAE 1931175560.6247.013.351.431.92
JapanNAGOYA 78462158.9745.653.021.111.91
MexicoBMV 53835421765.8061.302.570.731.84
USOTCBB 3116851.6150.006.504.881.63
CanadaTSX-V 52228011053.6439.294.513.091.43
TurkeyBIST 87573065.5252.631.610.281.33
SingaporeSGX 67837819655.7551.852.261.111.15
USPREFERRED 121180246066.2357.361.550.421.13
Austria WIENERBORSE 54342462.9670.590.970.120.85
FOREXFOREX 1541127172.7363.390.860.190.67
USAMEX 121854570.2552.940.490.270.22
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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