Bullish Engulfing Pattern | Candle | Candlestick | Chartlink | Stocks | Meaning | Reliablity

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Hello…how are you?

Well, today in this article. I am going to talk about one of the powerful candlestick patterns i.e Bullish engulfing candlestick pattern.

This candlestick pattern is one of the popular patterns and you easily make quick bucks out of this pattern.

In this article, I will also cover the Bullish Engulfing pattern chartlink and Bullish engulfing stocks.

What is Bullish Engulfing Candlestick?

Bullish Engulfing Candlestick is one of the most popular candlestick patterns used by traders to make buy calls.

The bullish engulfing candlestick is the first bullish candle that appears after a big downtrend.

If we see a big downtrend and later a small bearish candle with the second candle that is a bullish candle that completely engulfs the small bearish candle.

How to find Bullish Engulfing Candle?

Here, To illustrate the Bullish Engulfing candle. I am going to use Olymp Trade.

If you don’t have an Olymp Trade account. Click here.

You can also sign up via the form below.

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Once you click the link above you will land on the Olymp Trade homepage.

Now, click on the register and enter your email, password & click sign up.

Once you have signed up you will land on the Olymp Trade homepage.

Now, click on the chart button and select Japanese Candlestick from the menu.

That’s it!!! The basic setup is over and your dashboard will look like something given below.

 

Now, talking about How to find Bullish Engulfing Candle? well, it’s damn very easy.               

Step 1: What you need to do is find a big downtrend. as the Bullish Engulfing candle works best after a strong downtrend.

Step 2: Secondly, Find a bearish candle ( red candle) with a green or bullish candle that completely engulfs the first candle.

 

How do you trade with Bullish Engulfing Pattern?

Trading with Bullish Engulfing Pattern is very easy.

Let’s check few examples.

Given above is 1- hour chart and we can firstly see a good downtrend and later a small bearish body which is completely engulfed by a big green body.

So, here we can take a buy trade.

 

Bullish Engulfing Pattern Reliability: How reliable this candlestick pattern is?

Bullish Engulfing Pattern is highly reliable.

However, If you want to reap the real results from this pattern then you should support and resistance  to confirm your order.

Let’s check few examples:

Given above is 1 – hour chart and we can firstly see a big downtrend and later a bullish engulfing pattern near the support level.
So, here we should take a buy trade.
Given above is 1 – hour chart and we can firstly see a big downtrend and later a bullish engulfing pattern near the support level.
So, here we should take a buy trade.

Winding Up:

So, this is the end of this article.

I hope you have found this article helpful.

Memorizing the main points:

What we need to do is firstly, find a downtrend.

Secondly, find a bearish candle and later a bullish candle. The second candle must have at least 75% body which completely engulfs the first candle. that’s it!!

I wish a great success thank you. Best of luck. :-).

If you still have any doubt or have found any error in this article feel free to contact me at Honestdigitalreview@gmail.com

 

 

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