Bullish Engulfing Pattern Tested 100 TIMES so you can master your Candlestick Trading Strategy

Interesting videos highly rated Best Forex Trading, Stock Market Trading, Currency Trading Training, Trading Strategies, and Best Stochastic Setting For Divergence, Bullish Engulfing Pattern Tested 100 TIMES so you can master your Candlestick Trading Strategy.

How to use the Bullish Engulfing Pattern in Trading Forex and Stock Market? Is this the Best Candlestick Pattern Trading Strategy you can use?
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Is the Bullish Engulfing Pattern actually good? Should you put your money on the Bullish Engulfing Candlestick Pattern? Well, to find out, why don’t we test the Bullish Engulfing Pattern one hundred times, just like we tested other trading strategies multiple times on this channel. Check them out, and subscribe to the Trading Rush Channel, because the last thing we want to do as a trader, is trade on a strategy the doesn’t work in the long run.

The bullish engulfing pattern is a two candlestick pattern, where a small red candle is followed by a big green candle that completely engulfs the body of the previous red candle. Bullish engulfing is a reversal pattern, and it is used to find the reversal in a down trend. In simple words, the bullish engulfing pattern is mostly used to find the entry and exit in a trading strategy. Now, some traders who trade on daily and higher timeframes, like to trade using the candlestick patterns alone. But why is this candlestick pattern so popular and trusted by many traders? Well, to understand that, we will first have to understand how the engulfing patterns work.

Since candlestick patterns are watched closely on the daily timeframe, let’s say on the daily timeframe, a stock or a forex pair made new lower lows four days in a row. Most people who trade on the daily timeframe will see this as a strong selling pressure. The people who were selling are happy, and many buyers are not ready to buy after sellers took over the market 4 days in a row.

Now if a green candle opens at or below the closing price of the previous red candle, and manages to close above the opening price of previous red candle, it will indicate a lack of selling pressure on that day. It means that the sellers who were selling for 4 days in a row, are no longer interested in selling, and the buyers are more interested in buying. When this happens, the next few candles that follow will have a higher probability of moving higher. Now remember, the bullish engulfing pattern is a short term pattern. What this means is, when the bullish engulfing pattern occurs, price has a higher chance of moving upwards for a short time period. That’s why it is usually used as an entry signal pattern in a trading strategy that can predict long term trend direction.

For example, let’s say in an uptrend, you are waiting for the price to touch your support area. Now if the price touches your support area, you cannot immediately buy as there has to be a reversal confirmation. So instead of risking your money immediately, you wait and take a long trade when the bullish engulfing pattern appears.

Now everyone is going to use the bullish engulfing pattern differently with their different trading strategies, but what I wanted to find out, was how good of a pattern the bullish engulfing pattern really is on its own.

Since candlestick patterns are short term trading patterns, there are traders on daily and higher timeframes, who hold the stock or a forex pair only for the next 1 or 2 candles. So to find out how many times the price actually went up the next day after the engulfing pattern, I tested the Bullish engulfing pattern 100 times, and here’s what happened.

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Best Stochastic Setting For Divergence, Bullish Engulfing Pattern Tested 100 TIMES so you can master your Candlestick Trading Strategy.

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The third necessary you need to master on your method to success is cash management. However, you should use another indicator so you can validate your conclusions. You can set your target simply above the mid band and take earnings.

Bullish Engulfing Pattern Tested 100 TIMES so you can master your Candlestick Trading Strategy, Get more videos about Best Stochastic Setting For Divergence.

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