5 BULLISH REVERSAL CANDLESTICK PATTERNS
On these next few pages, you are going to learn about the next 5 Bullish reversal candlestick patterns.
So what are bullish reversal candlestick patterns? Well, they are candlestick patterns where if they form, they indicate that the market is may turn from a downtrend to an uptrend.
For my case, I’d like to see bullish reversal candlesticks in a downtrend form on these price levels:
- major support levels
- upward trendline bounces
- fib retracement levels
These bullish reversal candlesticks can be easily incorporated into your forex trading strategies as buy signals or buy signal confirmation.
#6: Bullish Engulfing Candlestick Pattern
The Bullish Engulfing pattern is the exact opposite of a bearish engulfing pattern.
With the bullish engulfing pattern, what you have is a 2 candlestick formation where the first candlestick is a bearish candlestick that hides in the shadow of the second candlestick which is bullish.
And it looks like this:
Where Bullish Engulfing Patterns Form On A Chart
Look for Bullish engulfing patterns when price is near or touching these levels:
- major support levels
- upward trendline bounces
- fib retracement levels
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