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Many prosperous investors utilize candlesticks because they offer the next advantages: 1. Numerous candlestick formations have been defined and have been comprehensively analyzed over extensive time periods. 2. Candlesticks have acquired an impressive reputation for detecting key deviations in price actions, such as retracements and reversals. 3. Candlesticks are comparatively simple to study and interpret. 4. As candlestick structures are visually distinctive, they can be easily identified on trading charts. A number of famous candlestick patterns were introduced in section 2. A few more are now introduced. 7.5.2 Bullish Engulfing Pattern This formation comprises two candlesticks and is a serious sign that a bearish trend could soon be ending. The initial candlestick consists of a tiny black body. The second possesses an exceptionally larger white body that totally swamps the body of the primary candlestick. The subsequent figure presents an example.
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