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 2214663.6442.8617.644.7912.86
ArgentinaBUE 133915969.1764.138.360.987.38
IndiaBSE 84265223324361.9962.096.831.195.65
IndiaNSE 63404079267264.3465.516.160.885.29
RussiaMICEX 61541026466.6764.395.880.904.99
ChinaSSE 66554903354473.6772.285.540.684.86
ChinaSZSE 95957223524175.2872.565.630.784.86
USOTC PINK 44252606127559.0548.797.132.584.55
South KoreaKOSDAQ 56233603233264.2764.535.220.814.41
JapanFUKUOKA 96466.6766.675.331.334.00
Saudi ArabiaTADAWUL 83151533561.9765.054.690.783.91
BrazilBOVESPA 112272145964.2663.664.640.753.89
Hong KongHKEX 54043217179759.7055.704.971.243.74
South KoreaKRX 51093285201664.3061.374.310.733.58
SwedenSTOCKHOLM 1736111864964.4058.054.460.953.50
JapanSAPPORO 52140.0050.004.501.003.50
USNASDAQ 144069463587665.7962.004.410.953.46
TaiwanGTSM 2178127576958.5460.314.300.863.44
OmanMSM 1810355.5630.005.802.403.40
USAMEX 160899155561.6356.004.611.283.32
TurkeyBIST 87154533062.5760.554.160.843.32
The World 1538421011866333165.8162.554.130.853.28
NorwayOSE 56536320964.2557.584.501.333.17
IndonesiaIDX 66140623161.4256.904.010.973.04
PortugalLISBON 1581107869.6270.913.740.762.97
JapanTOKYO 110907135425464.3459.623.600.862.74
EgyptEGX 46329715964.1553.543.891.172.72
DenmarkCOPENHAGEN 43126714161.9552.813.550.842.70
SpainIBEX 51832719363.1359.023.380.692.69
MalaysiaBURSA 128068538253.5255.773.701.062.64
IsraelTASE 80856635070.0561.843.420.862.56
USWARRANTS 55402372.7357.503.881.332.55
FrancePARIS 2130142091966.6764.723.200.662.54
JordanASE 116673157.7646.273.961.462.49
AustraliaASX 2021132777865.6658.633.400.942.46
TaiwanTWSE 31761864109658.6958.803.090.662.44
KuwaitKSE 132693152.2744.934.001.622.38
BelgiumBRUSSELS 41629917371.8857.862.920.582.34
Austria WIENERBORSE 1961348068.3759.702.870.542.34
QatarQE 1631025962.5857.843.060.752.30
CanadaTSX 51853344197664.5959.003.050.772.28
SwitzerlandSIX 131989351367.7057.452.750.542.20
ItalyBORSA 28321926117668.1160.962.970.772.20
UKLSE 47003194194368.0060.793.070.862.20
GermanyXETRA 35322458155269.5963.142.760.612.15
USNYSE 1823812119759266.4862.622.800.662.14
UAEUAE 1851135561.0848.673.451.342.12
JapanNAGOYA 75442058.6745.453.021.002.02
USOTCBB 2512648.0050.007.755.752.00
NetherlandsAMSTERDAM 72647129864.8863.272.450.611.85
MexicoBMV 51934521066.4760.872.560.741.82
Greece ATHENS 2121296860.8552.713.741.931.81
TurkeyBIST 82543065.8555.561.700.241.46
CanadaTSX-V 52728211353.5140.074.523.131.39
USPREFERRED 120179645266.2856.781.550.421.13
SingaporeSGX 66937219255.6151.612.241.111.13
Austria WIENERBORSE 54342462.9670.590.970.120.85
FOREXFOREX 1441036871.5366.020.900.190.71
USAMEX 118824469.4953.660.480.280.20
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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