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All Patterns Flashcard Game
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Bullish Engulfing Candlestick Pattern
| This pattern signals a potential trend |
Reversal
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| How to identify |
- The color of the 1st day's body reflects the trend, however could be a doji.
- The 2nd day's real body engulfs the 1st day's body.
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| Similar pattern(s) |
» The Bullish Engulfing pattern is the start of the Bullish Three Outside Up pattern.
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| Psychology |
If not much volume occurs on the 1st day of the Bullish Engulfing pattern compared to the 2nd day, then this increases the strength of the pattern. The 2nd day opens below the close of the 1st day, however quickly rallies to close above the open of the 1st day. This damages the spirits of the shorts and brings into question the bear trend which prompts additional buying in the coming days.
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