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Engulfing is a reversal pattern in Candlestick analysis which can be bearish or bullish.If it is formed at the end of uptrend it Bearish and Bullish if it is formed at bottom of uptrend.
conditions for Bearish Engulfing Eg:
#)uptrend in the stock previous days
#)Bullish candle formed at top and followed by bearish candle in day which covered the entire bullish candle.Also powered with good volume
#)Short at price below the close price of bearish candle.
#Stop loss price above open price of bearish candle
#)Target difference between the short price and Stop loss
RSI is Relative Strength Index which shows the stock or index`s trading strength.It provides oversold and overbought levels.It works in non trending market.It measured by 2 scales 70 and 30.Buying zone is the level at which price goes below 30 mark scale and raises above 30.
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