Binary Signal Pattern 14

Binary Signal Pattern 14

In the above picture the reversal candlestick looks like the Bullish Engulfing. It has Upper and lower tails therefore it acts as a Bullish Engulfing. Bullish Engulfing is one of the important bullish reversal patterns. Bullish Engulfing Candlestick Pattern generally appears at the bottom of a downtrend or near a potential support. Basically it is made up of two candlesticks, the first day candle is red/black and second day candle is green/white which completely engulfs the first day candle. In this pattern, the second candle completely covers the first candle, therefore it’s called the Bullish Engulfing. This shows the buying pressure in the market and suggests a possible change in trend.