Bullish Engulfing Pattern

Bullish Engulfing is a chart pattern formed by two adjacent candlesticks, and its uniqueness lies in the fact that the body of the subsequent bullish candle completely engulfs the body of the preceding bearish candle.

The strength of this chart pattern lies in its reversal characteristics. When the body of the previous bearish candle is entirely engulfed by the subsequent bullish candle, it indicates a swift shift from sellers to buyers in the market, sending a strong buying signal and suggesting the initiation of a bullish reversal, with the implication that prices are poised for an upward turnaround.