BEARISH ENGULFING - CANDLE FORMATION (BEARISH REVERSAL)
Consists of 2 candlesticks. The size of the first one is not important.
The second one should be a large bearish candle the creates a new
high yet closes lower than the first candle.
NOTE:
TRIGGER:
The second one should be a large bearish candle the creates a new
high yet closes lower than the first candle.
NOTE:
- This is only a valid formation when at a key level of resistance.
TRIGGER:
- Sell on the open of the next candle after the close of the Bearish Engulfing candle.
- After the close of the Bearish Engulfing wait for the open of the next candle to sell a retracement of the Engulfing candle.
