Long Legged Doji Confirms Support Level
Long Legged Doji Confirms Bullish Engulfing Support Level
Our last post highlighted the potential power behind finding a Bullish Engulfing Pattern in the S&P500 intraday market. As pointed out, they are not a common occurrence on a Globex Futures Chart. However, every Trader should be able to recognize it when it does appear and be prepared to take action and trade it for whatever profit potential it presents.
The chart below shows the 24 hour period following the day the pattern appeared.