Bullish Engulfing is an important bottom reversal pattern. It appears after a downtrend. It’s a two candlestick pattern. In this, a large Green candle completely engulfs the preceding small Red candle. Though it is not necessary for the Green candle to engulf the shadows of the previous Red candle, it should engulf the entire real body. It’s an important bullish reversal signal. Heavy volume on second day of the pattern creates higher probability of trend reversal.
|Bullish Engulfing (11th Oct)|
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