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Author Topic: Bullish Engulfing Pattern  (Read 24 times)
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« on: February 06, 2021, 08:31:40 PM »

Bullish Engulfing https://finmaxbo.com/en/strategy/521-trading-engulfing-pattern.html candlestick patterns consist of two candles. The first one typically represents a previous trend. The second candle has a larger body, which can absorb the body of the previous candle. In other words, the second candle engulfs the first one. The best-case scenario for a trends reversal pattern suggests that open and close prices of the second candlestick represent a wider range than the first candle. However, some applications use an equal close rate of the first candle and the open price of the second one. Shadows of both bars are not significant in this case as the main information is coming from candle bodies. However, long shadows might be useful in terms of determining further trends direction and calculating possible resistance and support levels. Only at FINMAX you can find out more about this.
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