2.Bullish Engulfing Pattern
The Bullish Engulfing is a two-candle pattern that signals a shift from bearish to bullish sentiment. The second candle in this pattern "engulfs" the body of the first bearish candle.
What It Means:
The first candle represents the continuation of the downtrend, while the second, larger bullish candle shows that buyers have stepped in with significant force, overpowering the sellers.
Key Characteristics:
The first candle is bearish, reflecting the ongoing downtrend.
The second candle is bullish and larger, completely engulfing the previous candle's body.
It often occurs at support levels or after a long bearish trend.
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