MSFL takes support at 200sma with bullish engulfing pattern

2024年5月28日

A bullish engulfing pattern, bolstered by the 200-day SMA and heightened trading volume, signals a potential trend reversal.

When the bullish engulfing pattern is formed after a downtrend, it signals the reversal of the trend. There are high possibility that an uptrend can be seen after the formation of this pattern.

What is a Bullish Engulfing Candle?
A Bullish Engulfing Candle is a green candle formed after a red candle. This green candle totally covers the red candle and is bigger than the red candle. In a simpler way, in a bullish engulfing pattern, the red candle appears to be the small shadow of the green candle.


*At times, the 200-day SMA serves as a support level when the price is above the moving average or a resistance level when the price is below it.





Disclaimer- This analysis is solely for educational purposes and does not constitute any recommendation to buy or sell.

2024年5月30日

取消訂單

TRADE CANCELLED as THE ENTRY WAS AT THE HIGH OF THE BREAKOUT CANDLE

2024年6月20日

交易進行

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