Engulfing Candle Algo Strategy
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An Engulfing Candlestick pattern is a technical analysis pattern that can signal a reversal in the market trend. The pattern consists of two candles, where the body of the second candle completely engulfs the body of the first one. There are two types of Engulfing patterns:
Bullish Engulfing Pattern:
- The first candle is a bearish candle (down candle).
- The second candle is a larger bullish candle (up candle) that completely engulfs the body of the first candle.
This pattern suggests a potential reversal from a bearish to a bullish trend.
Bearish Engulfing Pattern:
- The first candle is a bullish candle (up candle).
- The second candle is a larger bearish candle (down candle) that completely engulfs the body of the first candle.
This pattern suggests a potential reversal from a bullish to a bearish trend.
Traders often use the Engulfing Candlestick pattern as part of their trading strategies to make decisions on when to enter or exit trades.
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