Bullish engulfing is a multiple candlestick chart pattern formed after a bearish trend that indicates a bullish reversal.
It consists of two candlesticks, with the second candlestick covering the first candlestick. The first candle is a bearish candle that indicates the continuation of the downtrend.
The second candle is a long bullish candle that completely covers the first candle, indicating that the bulls are back in the market.
The pattern of the lamp is striking
Traders can go long if a bullish candle forms the next day and place a stop at the bottom of the second candle.
Below is an example of a bullish engulfing candlestick pattern
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