Bearish Engulfing Pattern Candlestick Formation
Description
The Bearish Engulfing Pattern candlestick formation occurs when a large black body engulfs a previous small white body in an uptrend. To quantify, the black body should be at least at big as the average body size of the last 5 days, the small white body just has to be smaller than the large black body. We define an uptrend here as higher prices for 3 days, up to the white body. However, the black body does not have to have a higher high than the white body, the black body simply has to engulf the white body.