The third one is a bullish candlestick that suggests a turnaround in the market bias. The second one is a small candle with a negligible body and very little wicks. When they follow each other, it is often a sign that the market is taking a sharp turn towards the uptrend.Ī long bullish candlestick with no wicks (or negligible wicks) that suggests an uptrend continuation. Made up of two candlesticks of almost equal sizes – a bearish followed by a bullish.
It is called bullish engulfing because the size of the bullish candle completely engulfs the bearish one preceding it. Made up of two candlesticks – a bearish followed by a bullish one.
What marks it out as a bullish candlestick pattern is its small body sitting on a long wick. This candlestick could either be bullish or bearish. A candlestick that has a long wick underneath it with a tiny body at the top.
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