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Tuesday, May 18, 2010 7:01:48 AM
A bearish engulfing pattern is a TWO candlestick pattern. You know the parameters of the design.
If it occurs at the top of a uptrend, or the top of a multiday bounce in a downtrend, it becomes a reversal pattern.
If, on the other hand, it occurs during a downtrend, or at the top of a multiday bounce in a downtrend, it becomes a CONTINUATION pattern.
So, to summarize, your right. A bearish engulfung reversal pattern only occurs at the top of an uptrend, but, alas, I never said that it was a bearish engulfing reversal.
Thanks for your reply.
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