The Bullish Engulfing pattern indicates a bearish-to bullish reversal to an ongoing trend. A bullish engulfing candle, which closes higher than its previous day’s open price after closing lower than the previous days’ close, is a bullish candle. This pattern is known as a reverse candlestick analysis.
What is a Bullish Engulfing Candle Pattern Pattern?
Two Japanese candlesticks form the bullish-engulfing pattern. One is bullish, and the other is bullish.
A bullish engulfing pattern appears at the low of a downtrend and indicates that the price has reached a strong support level and buying pressure is… Read full author’s opinion and review in blog of #LiteFinance