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Today there are several patterns which are to be discussed. These patterns all belong to the same family. I will be covering the entire “star” family of candlestick patterns, except for one which will be covered later. Anyways, on with what will be this blogs biggest post to date. The Engulfing Pattern is a Japanese candlestick pattern that appears after a bull rally or a steep decline. It signals a trend reversal by shocking the trend with a sudden opposite movement. The Engulfing pattern involves two candlesticks; in general, the more candlesticks that are involved in a pattern, the more powerful it tends to [...] Today’s Japanese candlestick pattern is called the “Hanging Man”. It is a reversal pattern that is often found at the peak of an upward trend. |
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