What is the power of engulfing?
The powerful aspect of the Engulfing Pattern is that it signifies a strong likelihood of reversal in the market. The buyers or sellers have been been aggressive enough to bring back the price to a level beyond the extreme level of the previous day.
The powerful aspect of the Engulfing Pattern is that it signifies a strong likelihood of reversal in the market. The buyers or sellers have been been aggressive enough to bring back the price to a level beyond the extreme level of the previous day.