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BULLISH ENGULFING AND BEARISH ENGULFING

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BULLISH ENGULFING AND BEARISH ENGULFING   1.BULLISH ENGULFING www.FurtherGrow.in A “bullish engulfing pattern” consists of a large green real body that engulfs a small red real body during a downtrend. It signifies that the buyers are overwhelming the sellers.                       The Engulfing pattern is a major reversal pattern comprised of two opposite colored bodies.This Bullish Pattern is formed after a downtrend. It is formed when a small red candlestick is followed by a large green candlestick that completely eclipses the previous day candlestick. It opens lower that the previous day’s close and closes higher than the previous day’s open. Criteria 1.The candlestick body of the previous day is completely overshadowed by the next day’s candlestick. 2. Prices have been declining definitely, even if it has been in short term. 3. The color of the first candle is similar to that of the previous one and the body of the second candle is opposite in c