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 2714551.8535.7114.294.869.43
ArgentinaBUE 1651137268.4863.728.140.967.19
IndiaBSE 93095840359562.7361.566.571.175.40
IndiaNSE 68894471292164.9065.336.180.865.33
ChinaSZSE 106487870568273.9172.205.370.744.64
ChinaSSE 73655351381872.6571.355.280.664.62
RussiaMICEX 69345228765.2263.505.490.904.59
USOTC PINK 49772956144759.6348.756.792.504.28
South KoreaKOSDAQ 62554031260064.5664.395.040.794.25
BrazilBOVESPA 120276449163.5664.274.640.723.92
IndonesiaIDX 70743624961.6757.114.780.943.83
Saudi ArabiaTADAWUL 93759338663.2965.094.490.753.74
Hong KongHKEX 59003537197959.9555.954.901.233.67
JapanSAPPORO 52140.0050.004.501.003.50
SwedenSTOCKHOLM 1954125573664.4358.464.430.943.49
South KoreaKRX 55383573221964.5962.044.180.693.49
KuwaitKSE 187984952.4150.004.741.263.49
TaiwanGTSM 2364139084258.8060.584.260.843.43
USNASDAQ 1583910429645565.8661.884.350.943.41
USAMEX 1754107160561.0656.494.571.243.34
TurkeyBIST 94259736963.3861.814.120.823.29
The World 1689251114746977166.0262.574.070.833.24
NorwayOSE 61939122963.9757.834.291.143.15
EgyptEGX 50032517665.0054.
PortugalLISBON 1651158369.7072.173.700.732.97
USWARRANTS 60402466.6760.
Greece ATHENS 2251407662.2254.294.711.802.91
JapanTOKYO 125838207495565.2560.353.730.832.91
MalaysiaBURSA 140075942754.2156.263.861.012.85
IsraelTASE 92364840070.2161.733.690.842.85
DenmarkCOPENHAGEN 47230116363.7754.153.620.822.80
FrancePARIS 23551579102167.0564.663.190.652.54
SpainIBEX 57137221865.1558.603.160.672.49
TaiwanTWSE 34462021119058.6558.883.120.652.47
Austria WIENERBORSE 2151499469.3063.092.980.522.46
OmanMSM 2213559.0938.464.772.312.46
AustraliaASX 2232146286165.5058.893.340.922.42
ItalyBORSA 31112136131868.6661.703.080.752.34
CanadaTSX 57153681219564.4159.633.070.752.32
BelgiumBRUSSELS 45533019372.5358.482.840.542.30
QatarQE 1771136563.8457.523.060.782.28
UKLSE 52503598221368.5361.513.080.832.25
GermanyXETRA 38392685169869.9463.242.820.612.21
SwitzerlandSIX 145098957468.2158.042.730.522.20
JapanFUKUOKA 178447.0650.004.001.882.13
USNYSE 1955713081817766.8962.512.730.652.08
JapanNAGOYA 84512460.7147.
JordanASE 136803658.8245.003.601.641.96
MexicoBMV 57437723165.6861.272.650.721.93
NetherlandsAMSTERDAM 78351833266.1664.092.460.571.89
UAEUAE 2061255860.6846.403.221.481.74
SingaporeSGX 70539620756.1752.272.481.091.39
TurkeyBIST 92613366.3054.101.570.261.31
CanadaTSX-V 56129711453.4838.004.423.141.28
USPREFERRED 125083548166.8057.601.460.341.11
USOTCBB 3718948.6550.005.894.781.11
Austria WIENERBORSE 66422863.6466.670.830.120.71
FOREXFOREX 1661187671.0864.410.850.190.66
USAMEX 133914768.4251.650.520.260.25
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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