Forex strategies - Bullish Engulfing candlestick pattern strategy
This video will be about the Bullish Engulfing candlestick pattern strategy. Bullish engulfing is one of the most "powerful" candlestick patterns. It provides very high accuracy with the most precise confirmation of the trade. The Bullish engulfing pattern is a medium probability pattern. We shall see a few examples of the bullish engulfing pattern and its definitions. In this type of a Reversal pattern, the prior trend should always be bearish and the next, i.e the upward trend, should be Bullish. As we can see in the chart, a small bearish candle and the next candle is bullish, which is engulfing the previous bearish candle. The Previous trend is bearish and further, after that, the pattern is bullish. And, as we can see from the chart, we can place a trade in these suitable places.