Bullish Engulfing Candle Strategy makes your profit Double bc7ceee8-31d6-4ab2-ad00-1a1f55258d53

Bullish engulfing Candles Strategy 85% Winning Accuracy

There are almost 40 candlestick patterns in the forex market but some patterns are working very effectively Including the Bullish Engulfing Candle

These patterns can give you 80% to 85% Accuracy on your trade history if you trade those candlestick patterns on any trendline or support resistance then you gain lots of Green Pips

If you want to trade on continuation or reversal both levels are good for a bullish engulfing candle

If you see any Bullish engulfing candle on any significant support resistance or trendline correction then you can easily take a buy trade after the bullish engulfing candle appears

bullish engulfing candle trading strategy

Continuation Strategy of the Bullish Engulfing Candle

  • When you open your chart and analyze the market first of all you should identify the market structure or market
  • suppose you find an uptrend and the market goes up then you should wait for trend correction
  • When the market goes to correction then you should alert and wait for a continuation pattern when you see a bullish engulfing candle on correction of the trendline then this great opportunity to enter this trade
  • After the bullish engulfing candle you should wait for the retest candle and after that, you should take a buy trade and set your Stop loss below the bullish engulfing candle and set your Take Profit Double
  • If you set your stop loss on 60 pips then you should strictly follow the risk-to-reward ratio double 1:2 and set your take profit at 120 pips
  • Close your laptop and enjoy your Trade Congratulations you are in Trend

When you understand this system then apply this strategy on a demo account and practice this strategy at least 2 months and take least 40 to 50 trades in 2 months strictly follow money management and risk-to-reward ratio once you complete your practice then start with just $100 in real account and follow your all rules

if you see 5 to 10 losses then no worries continue this strategy some strategies will give you results in a month or two months so relax and keep your strategy strongly

If you want some more informative articles then feel free to visit Faiqforex

 

Leave Comment

Your email address will not be published.