Engulfing Candle Trading Strategy
A personal story...
I mentioned the Engulfing candle when I covered Forex Candlestick Reversal Patterns.
Also known as a Key Weekly/Day Reversal candle the Engulfing candle, and the Pin Bar, are probably my most "favourite" reversal candlestick patterns. In fact they are probably the only 2 (4 if you count the Bullish/Bearish options) candlestick patterns I pay attention to.
As always, it's worth mentioning, because many do not, that the higher the time frame the more respect I give them, Daily and above is preferable.
Nigel’s Price Action Swing Trading (PAST) Strategy is primarily based on identifying candlestick reversals on the higher time frame and then taking entries on the lower time frame. It's free and available here.
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