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Bullish Reversal Patterns
Engulfing Pattern
Bullish candle closes above previous candle’s open
Open
The lenth of bullish candle “engulfs” the previous red candle
Close Gap
Bullish can at ,or lower than a previous cana close
The bullish engulfing candle provides the strongest signal when appearing at the bottom of a downtrend and indicates a surge in buying pressure.
The bullish engulfing pattern often triggers a reversal of an existing trend as more buyers enter the market and drive prices up further. The pattern involves two candles with the second candle completely engulfing the ‘body’ of the previous red candle.
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