EURUSD 1.1696 USDJPY 111.41 USDCAD 1.2491 EURCZK 26.029 USDCZK 22.250 EURPLN 4.2531 USDPLN 3.6362
EURUSD 1.1696 USDJPY 111.41 USDCAD 1.2491 EURCZK 26.029 USDCZK 22.250 EURPLN 4.2531 USDPLN 3.6362

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Simple formation consisting of two candles, indicating a possibility of trend reversal

Rule of thumb

Ensure that the body of the rising candle covers the body of the falling candle

Chart type: Candlestick

Applies to: Reversal

Significance: High

 

The Bullish Engulfing Pattern is a formation of the candlestick chart, that occurs in a downward trend, and is considered to indicate a potential trend reversal. It is represented by a falling candle with  a body (black, red, or empty – depending on individual settings) smaller than the body of the next, rising candle (white or blue).

 

bullish engulfing pattern

 

Another key element is the fact that the body of the second candle covers the body of the first one.

 

How to use it with MetaTrader 5:

  • Select the candlestick chart with the Candlesticks icon
  • Look for a considerable downward trend.
  • Look for a falling candle, where its body (red, black or empty) is smaller than the body of the next rising candle (white or blue). 

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