To the average trader, candlestick patterns are a bunch of crosses and oblong shapes with odd names, like the abandoned...
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What that suggests is that the bulls have now taken control of the stock price from the bears. These are typically found at top of trend and can be identified when a small white candle is followed by a larger red candle that completely engulfs it. There is a very high degree of risk involved in trading. We must look at other confirmation technical tools, as well.
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Trading the J-Hook Continuation Pattern. The pattern will also following a stock price decline, and potentially indicate reversal off a low. The indicators, strategies, columns, articles and all other features are for educational purposes only and should not be construed as investment advice. But once understood, even the craziest sounding candlesticks can help make you a fortune.
It can be an indication of a potential reversal off recent highs. The bullish engulfing pattern forms when a small red candlestick is followed by a larger white candlestick that completely engulfs it.