Engulfing Pattern
Bullish Engulfing is a two-line pattern, where the body of the black candlestick of the first line is engulfed by the body of the white candlestick of the second line. The pattern appears in a downtrend and predicts its reversal. If trading volume data is available for a given market and it grows on the second line, the reliability of the pattern is higher.
Last modified: 13 December 2024