Thrusting Candlestick Pattern
Thrusting candlestick patterns are bullish reversal candlestick patterns. A Thrusting candlestick pattern is very similar to a Piercing candlestick with one slight difference. A Thrusting candlestick does not close as high into the previous candlestick's real body as a Piercing candlestick pattern.
A Thrusting candlestick pattern closes less than 50% into the real body of the preceding candlestick. A Piercing candlestick pattern closes 50% or more into the preceding candlestick's real body. In summary, a Thrusting candlestick pattern does not penetrate as deeply into the preceding candlestick's real body when compared to a Piercing candlestick pattern.
While a Thrusting candlestick is slightly less convincing of a possible reversal than a Piercing candlestick, its bullish reversal qualities should not be ignored. This candlestick can still signify major changes in trends.
When a Thrusting candlestick pattern is confirmed with high buying volume, the chances for a successful reversal are increased significantly. Let's start by reviewing the requirements for Thrusting candlestick patterns.
Listed below are the requirements for a Thrusting candlestick pattern.
- It is a bullish reversal candlestick pattern
- It must always have a a green colored real body
- It must close higher than the preceding candlestick's closing share price, but less than 50% into the preceding candlestick's real body
Characteristics & Observations
Listed below are some of the characteristics and observations I have made with Thrusting candlestick patterns during my investing career......
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