Salazar
Short

engulfing bearish

FX:USDCAD   U.S. Dollar/Canadian Dollar
83 1 0
engulfing bearish
dojitrader
3 years ago
Curious; Are you a proponent of Steve Nison ? He would say this is not a valid enjulfing pattern because it did not follow a 3 candle uptrend. In fact this might actually be a bearish washout signaling a small bullish possibility. Especially if this weeks candle ends with a doji or spinning top. However, the trend is still down until proven otherwise. *if you look back over your chart I found 4 or 5 examples of this happening in the past.*
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