Piercing Line Candlestick Formation

Description

A Piercing Line, or Piercing Pattern, candlestick formation is composed of 2 candlesticks. The first is a long red candlestick during a downward move. The second candlestick is a long green candlestick that opens below the low of the first red candlestick and closes above the midpoint of the first red candlestick's body.

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