The Bearish Engulfing Bar Candle Stick 🕯
The bearish engulfing candle as the name implies grows to engulf the previous Bullish candle.
The Bearish engulfing candle is a strong Confirmation candle that sellers are getting stronger taking over the market.
Even if you are trading with institutional concepts, it is very important that you are able to identify a candle stick pattern like this. Because it gives you a read to what the market is doing.
It shows serious displacement to the Downside that implies price rejection at specific Keylevels.
WHERE THE BEARISH ENGULFING CANDLE STICK IS MORE POWERFUL?.
1. The bearish engulfing candle stick is more powerful at a level of resistance.
2. It is more Powerful at level of supply (For supply and demand Traders.
3. It is more powerful Bearish Fair Value Gaps FVG ( for Smart Money Concepts Traders).
4. In general, whatever you pick your Bearish key level to Be, you will always have to know and read when there is a bearish engulfing Candle stick pattern. Because this enables more precision when you want to sell after having a sell Trade setup.
This candle stick pattern is important for Beginners, Intermediate and Advanced Traders.
Assignments.
Go to your chart , identify this candle stick pattern and send a screenshot with your observations and questions. I am here to answer.