stephenleachman

BULLISH ENGULFING - CANDLE FORMATION (BULLISH REVERSAL)

Education
FX:GBPNZD   British Pound / New Zealand Dollar
Consists of 2 candlesticks. The size of the first candle is not important.
The second candle should be a large bullish candle that creates a
new low yet closes higher than the first candle.

NOTES:
  • his is only a valid formation when at a key level of support.

TRIGGER:
  • Buy on the open of the next candle after the close of the Bullish Engulfing.
  • After the close of the Bullish Engulfing Candle wait for the open of the next candle to Buy a retrace of the Bullish Engulfing.

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