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The Engulfing Trader Pdf 17

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in the example below, we are faced with a long-term bearish engulfing pattern. notice that the engulfing candle is below the body of the prior candle in the pattern. from a technical point of view, we are buying at the right price and above the upper wick of the engulfing candle. as such, we are in a position to make a long-term trade based on this trend.

the following example shows a classic engulfing pattern based on price action. the engulfing candlestick shows that the price is below the upper wick of the previous candle and above the lower wick of the previous candle.

now, we can see how to identify an engulfing pattern and trade it. the example below shows an engulfing pattern using the stochastic oscillator. the stochastic oscillator is an overbought / oversold oscillator and shows when the market is overbought and oversold. notice that the stochastic oscillator is below the upper wick of the previous candle and above the lower wick of the previous candle.

the following example shows an engulfing pattern based on the rsi. the rsi is an oscillator which measures the strength of the current trend. in this case, the rsi is above the previous candle. this shows that the market is currently in an uptrend.

now, we can see how to identify an engulfing pattern and trade it. the example below shows an engulfing pattern using the money flow indicator. the money flow indicator measures the strength of the current trend. in this case, the money flow indicator is below the previous candle. this shows that the market is currently in an uptrend. 84d34552a1