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Bullish Engulfing

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Last Day: 28 Last Week: 24
Last 10 Days: 503 Last 10 Weeks: 617

Bullish Engulfing

This pattern signals
a potential trend...
How to identify...Similar pattern(s)...
Reversal
  1. The color of the 1st day's body reflects the trend, however could be a doji.

  2. The 2nd day's real body engulfs the 1st day's body.
The Bullish Engulfing formation is the start of the Bullish Three Outside Up formation.


Psychology...
If not much volume occurs on the 1st day of the Bullish Engulfing formation 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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