Candlestick analysis is very effective for a weekly forecasting and it is very useful tool for the positional traders.Reading candlestick charts is an effective way to study the emotions of other traders and to interpret price. Candles provide a trader with a picture of human emotions that are used to make buy and sell decisions. candlesticks can give a signal in advance about market action. A bullish engulfing pattern is a candlestick chart pattern that forms when a small black candlestick, showing a bearish trend, is followed the next day by a large white candlestick, showing a bullish trend, the body of which completely overlaps or engulfs the body of the previous day’s candlestick.A bearish engulfing pattern is a technical chart pattern that may portend a future bearish trend. The pattern consists of a small white candlestick with short shadows or tails followed by a large black candlestick that eclipses or “engulfs” the small white one.

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