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.
Requirements
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......
If you are interested in reading more about Thrusting candlestick patterns, you must first login.
Trendy Stock Chart members can access the requirements, characteristics, support areas and trading strategies for Thrusting candlesticks.
If you are not a Trendy Stock Charts member, consider subscribing today. There are several different subscription plans available.