best forex signals from Bearish Engulfing Pattern summary
Published by bestsignals
Bearish REVERSAL Engulfing Pattern properties to make the best forex signals free
1. Two candle pattern
2. The first candle has an open real body, in line with the Bull trend
3. The second candle has a filled real body
4. The second candle’s real body surrounds the real body of the first
5. The size and position of the shadows on either candles does not matter
6. The market is in an uptrend when the pattern appears
best forex signals from Bearish Engulfing Pattern summary
The Bearish Engulfing Pattern is a two candle pattern in a rising market where the
second candle has a filled real body that surrounds the open real body before it.
This is generally a strong reversal pattern as it often takes a lot of effort and
achievement from the bears for it to form. It is one of my particular favourites for
this reason. Also it usually coincides with the Western bearish outside day. It should
be ignored at your peril!
Candlestick Charts
Engulfing patterns versus outside days
There is a pattern in Western analysis called a bearish outside day, or a key reversal
day. The rule set for this is a bear day in a rising market with a high above the
previous day’s high and a low below the previous day’s low. In other words the
day’s range is outside that of the day before, and a weak close is posted. This is
pretty similar to an Engulfing Pattern, but not always, as the candlestick version
doesn’t necessarily require a greater range on day two, just a larger (filled) real
body. In other words the range doesn’t have to come into the equation
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