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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 [...] The pattern I posted about on Sunday did not form. The market opened, and UNG opened down. That was the end of the abandoned baby candlestick pattern. Although it did manage to get back up to 13.75 despite the downward gap. It is also at all time lows. Sorry for the late update, I lost my [...] |
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