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Strategies & Market Trends : The 56 Point TA; Charts With an Attitude -- Ignore unavailable to you. Want to Upgrade?

To: Doug R who wrote (66790)	2/17/2022 3:59:05 PM
From: Woody	Read Replies (2) \| Respond to of 79449

Well there's not info on the subject. Best I've found ... Although the wicks of the candles are not as important as the bodies for an engulfing pattern, the second candle in a bullish engulfing can provide a good indication of where to place a stop-loss for a long position. This is because it shows what the minimum price someone is willing to accept in exchange for an asset at that given point in time. My two cents would be the candle size includes the wick but the body is more important. So in your example I would guess that the actual placement of the body would indicate direction. Only thing is .. it sure looks like a topping candle .. lol.