Pattern name: Bullish Engulfing
Pattern Type : Bullish Reversal
No. of Candles : 02
How to Identify it ?
1)There must be a preceding Downtrend.
2)A short Red candle followed by a long Green candle.
3)The Green candle should opens lower & closes higher than the Red candle.
4)The Red candle should be completely engulfed by the Green candle.
Its been a while since my last post. In this post I have represented selective candlestick reversal patterns.
In a candlestick, "body" represents the distance between candle OPEN and CLOSING price. Whereas "wicks" represent the entire range of the candle from TOP to the BOTTOM.
In most of these patterns only bodies are important. There are no conditions for...
👑 Terms used if you don't know :
✣ An inverse head and shoulders also called a "head and shoulders bottom", is similar to the standard head and shoulders pattern, but inverted: with the head and shoulders top used to predict reversals in downtrends. This pattern is identified when the price action of security meets the following characteristics: the price falls...
A bearish engulfing pattern is a technical chart pattern that signals lower prices to come. The pattern consists of an up (white or green) candlestick followed by a large down (black or red) candlestick that eclipses or "engulfs" the smaller up candle.
Bearish Engulfing Potential Sell Signal:
Three ways for selling using the Bearish Engulfing Pattern from most...
After a downtrend ; Bullish Hammer , Bullish Engulfing , Inside bar , accumulation zone are formed as a act of Fibonacci retracement in Daily chart.
Which gave a nice 11.8% profit with 3% stoploss.
A bullish engulfing pattern is a candlestick pattern that forms when a small Red candlestick is followed the next day by a large Green candlestick, the body of which completely overlaps or engulfs the body of the previous day’s candlestick.
Bullish engulfing patterns are more likely to signal reversals when they are preceded by four or more black...
THIS IS THE FOURTH PART OF THE ANALYSIS ON NIFTY -1.24% 2.32% FALL. IF YOU NOT READ THE PREVIOUS ONE 3 POSTS, PLEASE READ THE SAME FOR BETTER UNDERSTANDING. I HAVE ALSO SHARED ITS LINK BELOW.
Some Lines I said in the previous post
“In the process to up,There has been 2 Gaps created in the past downfall and crossed 2 Fibo support (Mentioned Below) which will stop...