markets
What is Bullish Engulfing Pattern?
Dec 14, 10:12

Bullish Engulfing pattern is a two candlestick pattern and is also considered a reversal pattern. It is formed after a downtrend or in a situation when prices have been steadily declining. The pattern is formed when a small bear (red/black) candle is followed by a large white candlestick that completely covers or eclipses the previous day's candle. If the pattern is formed along with large volumes then it increases the chances of a reversal or bulls are trying to take control of stock/index from the bears. The large bullish candle formed on the second signifies that a new direction of the trend has started with good force.

 

bullish engulfing