The engulfing bar can be a reversal pattern which will typically signal exhaustion from prospective buyers or sellers. As being the identify indicates, it’s a candle that completely engulfs the preceding 1.
You’re welcome. I wouldn’t contact it a double top as The 2 intraday swing highs are much too close collectively, a minimum of for my liking. Usually, there’s an honest degree of Area involving the two swing highs that sort a double best.
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You will discover 3 forms of candlestick designs I try to find all through a trading 7 days. They may be the pin bar, engulfing bar and inside of bar.