BULLISH ENGULFING CANDLE

 BULLISH  ENGULFING  CANDLESTICK

✍Bullish engulfing candle forms after as a trend reversal candle at the end of downtrend. It covers the previous candle downside with the single move. It may cover one or more candles previous to it.

✍Engulfing candle has a great way to assume a potential bottom in the market

✍Only bars that form on the hourly time frame or higher should be considered.

✍The engulfing candle confirms after the green candle closes. The green candle formation after the bullish engulfing candle the trend reversal is confirmed.

✍After the confirmation of trend reversal the trade has to be taken by putting low of the engulfing candle as a stop loss for it.

✍The engulfing candle is highly reliable pattern like marubozu candle.

✍The trend reversal candle itself says the trend has to be their before the candle forms. If the candle is forms in between the trend then it may act as a trend continuation candle.

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