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| MONTHLY CHART- BULLISH ENGULFING |
The bullish engulfing pattern consists of 2 candlesticks,
the first one is black & second one is white. The body of white candlestick
must totally engulf the body of black candlestick. This usually forms after
downtrend. After a decline, the second white candlestick begins to form when
selling pressure cause the stock to open below the previous close. Buyers step
in and push price above the previous open for a strong finish and a potential
short term reversal. THE LARGER THE WHITE CANDLESTICK AND MORE THE ENGULFING IT
IS STRONGER REVERSAL.
2 comments:
Hello,
I am Rahul R. Salokhe.
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