Strong Bullish Engulfing Chart Pattern

FX:USDCHF   U.S. Dollar/Swiss Franc
26 0 2
Currently on daily USDCHF             pair, price action is showing a Bullish Engulfing chart pattern, which is one of two best reversal chart patterns, especially on daily charts . This is a two candlestick pattern, with previous candlestick body, which engulfs the next candlestick which is totally inside the body of previous candlestick .

One noted is a long red candlestick , which extended down to a PSYCHOLOGICAL price action number of 0.95000 & when back up. The candlestick's whole body (or green one) is a very small DOJI candlestick which stays inside the body of previous red candlestick's body. Also, noted was price action break of Bollinger Band (bottom) & RSI when this price action occurred was below 20, which means it was oversold.

* Note: Other reversal chart pattern is a Pin Bar reversal chart pattern, which consists of three individual candlesticks . Yes, I know that there are a lot of other price action reversal chart patterns, but in my view the two best are these.
Ideas Scripts Chart
United States
United Kingdom
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out