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 red candlesticks.
Investors should look not only to the two candlesticks which form the bullish engulfing pattern but also to the preceding candlesticks.
Script = TVS motors
Time Frame = 15 min
Bullish engulfing patterns are more likely to signal reversals when they are preceded by four or more red candlesticks.
Investors should look not only to the two candlesticks which form the bullish engulfing pattern but also to the preceding candlesticks.
Script = TVS motors
Time Frame = 15 min