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* Bullish Japanese Candle Models* No. 3👇
3- Bullish Engulfing Pattern👇
This pattern consists of two consecutive candles in which the price fell, but then came a candle that opened below the closing price of the candle that fell but returned and rose and closed at levels higher than the opening of the candle that fell. It is preferable for the shadows of the two candles to be as small as possible to increase the credibility of the candles. As in the picture👇
When the bullish Engulfing candle comes after a downtrend, it shows the possibility of a reversal of the price movement and the price heading towards an increase during the next period of time. As in the picture
