The Thrusting candlestick pattern is a two-candle bearish continuation pattern formed during a downtrend whereby:
The first candled in the Thrusting pattern is a large full bodied bearish (black or red) candle.
The second candle is a smaller bullish (white or green) candle that opens below the previous low. The second candle closes between the prior candle’s midpoint and its closing price differentiating itself from the Piercing Line candlestick pattern which closes above the midpoint of the previous candle.
Describing price action whereby the second candle gaps down and then thrusts itself up into the first candle, Bulkowski suggests the Thrusting pattern acts as a bullish reversal pattern approx. 57-percent of the time (rather than as a bearish continuation pattern).
In isolation, the Thrusting pattern is considered weak relatively, however traders of this pattern should seek out large bodied candles for improved pattern performance signalling increased downward pressure on price.
Furthermore, traders will look for a bearish candle following the Thrusting pattern formation as a continuation confirmation. That candle should close below the second candle’s opening price with increased volume. If the following candle is bullish, a trend reversal may be expected.