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Bullish Engulfing Candlestick Pattern Scanner
| Code | Price | CandleStick Patterns | In Uptrend | In Downtrend | Volume Jump | Volume Fall | Chart | |||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| BANKBARODA | 241.2 | Bullish Engulfing | false | true | false | false | ||||||
| BELRISE | 234.31 | Bullish Engulfing | false | true | true | false | ||||||
| CESC | 146.44 | Bullish Engulfing | false | true | false | false | ||||||
| CHOLAHLDNG | 1489.0 | Bullish Engulfing | false | true | false | true | ||||||
| CORONA | 2064.7 | Bullish Engulfing | false | true | false | true | ||||||
| EMMVEE | 324.7 | Bullish Engulfing | false | true | false | false | ||||||
| FEDERALBNK | 353.35 | Bullish Engulfing | false | false | true | false | ||||||
| HERITGFOOD | 378.75 | Bullish Engulfing | false | true | true | false | ||||||
| IOB | 32.68 | Bullish Engulfing | false | true | true | false | ||||||
| INOXWIND | 70.59 | Bullish Engulfing | false | true | true | false | ||||||
| JSWENERGY | 539.8 | Bullish Engulfing | false | true | false | false | ||||||
| KAJARIACER | 1261.1 | Bullish Engulfing | true | true | true | false | ||||||
| LXCHEM | 169.55 | Bullish Engulfing | false | true | false | false | ||||||
| LICHSGFIN | 541.25 | Bullish Engulfing | true | false | false | true | ||||||
| LLOYDSME | 1813.0 | Bullish Engulfing | false | true | false | false | ||||||
| MANKIND | 2391.5 | Bullish Engulfing | false | true | false | false | ||||||
| REDINGTON | 363.2 | Bullish Engulfing | false | false | true | false | ||||||
| SOLARINDS | 20600.0 | Bullish Engulfing | true | false | false | false | ||||||
| STAR | 1047.8 | Bullish Engulfing | true | false | false | false | ||||||
| NIACL | 199.11 | Bullish Engulfing | true | false | true | false |
Bullish Engulfing Candlestick Scanner
What is a Bullish Engulfing Candlestick?
Bullish Engulfing is a two-candle reversal pattern that appears after a downtrend and signals the potential start of an uptrend.
The pattern consists of a small bearish (red) candle followed by a larger bullish (green) candle that completely engulfs the body and range of the previous candle, indicating strong buying pressure.
Key Points for a Bullish Engulfing:
- Bearish First Candle: The first candle must be bearish, reflecting the existing downward momentum.
- Bullish Second Candle: The second candle must be bullish and significantly larger than the first candle.
- Lower Open: The second candle opens below the close of the first candle, showing initial selling pressure.
- Higher Close: The second candle closes above the open of the first candle, demonstrating strong buyer control.
- Complete Engulfment: The high-to-low range of the second candle completely engulfs the range of the first candle.
Bullish Engulfing Trading Strategy
- After a Downtrend: Look for the pattern after a prolonged decline, where sellers may be losing momentum.
- Accumulation Signal: Higher trading volume or a breakout strengthens the bullish outlook.
- Reversal Opportunity: The pattern becomes more reliable when formed near strong support levels.
- General Rule: Use support/resistance levels, volume analysis, and other technical indicators to confirm the setup.
⚠ Warning
Small Bullish Engulfing patterns that form in sideways or low-momentum markets may generate weak and unreliable signals.
Target
- Short term: At least the height of the engulfing candle.
- Long term: Consider additional factors such as volume spurts, recent support/resistance levels, and other technical indicators.
Stop Loss
- Set the stop-loss below the low of the engulfing candle.
TSR Bullish Engulfing Scanner Features
- Real-Time Alerts: Set up alerts to get notified exactly as the pattern forms.
- Fine-Tune Filter: Combine the Engulfing pattern with other technical indicators and chart patterns for improved screening.
- Custom Tracking: Filter signals based on specific stock baskets or your personalized watchlist.
- Backtesting Capabilities: Evaluate historical performance to gain confidence in the pattern.
- Flexible Timeframes: Filter intervals from 1-minute to monthly ticks.
- Auto Refresh: Keeps your scanner data continuously updated.
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Free CandleStick Pattern PDF eBook
Fine Tune : You can customise these screeners by clicking on 'Fine Tune Filter' Option
Caution : All these screeners are crafted based on some historical scenarios which may / may notbe applicable here. We recommend to fine tune them according to current market conditions or seek expert advise before taking any decision.
