Educational Lesson 🫡
From the Rising Japanese Candlestick Patterns 💹 🕯️ 🕯️🕯️🕯️🕯️🕯️
Bullish Engulfing Pattern:
This pattern consists of two consecutive candles, the first one where the price decreased, 📉 but then a candle opened below the closing price of the previous candle, only to rise again 📈 and close at a higher level than the opening of the down candle. It is preferable for both candles to have small shadows to increase the reliability of the candles. When a Bullish Engulfing candle appears after a downtrend, it indicates a potential reversal in price movement, and the price is likely to rise in the upcoming time period.
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