Entry: Enter a long (buy) position after the bullish engulfing pattern is confirmed. The bullish engulfing pattern occurs when a small bearish candle is followed by a larger bullish candle that completely engulfs the previous one.
Stop Loss (SL): Place a stop-loss order below the low of the bearish candle in the bullish engulfing pattern. This is done to limit potential losses if the market doesn't follow the expected reversal.
Take Profit (TP): Set a take-profit level based on your risk-reward ratio or technical analysis. This could be a resistance level or a predefined profit target.
Tags: Use tags or comments in TradingView to label and organize your analysis. For example, you could tag your entry as "Bullish Engulfing Entry," your stop-loss level as "SL," and your take-profit level as "TP."
Stop Loss (SL): Place a stop-loss order below the low of the bearish candle in the bullish engulfing pattern. This is done to limit potential losses if the market doesn't follow the expected reversal.
Take Profit (TP): Set a take-profit level based on your risk-reward ratio or technical analysis. This could be a resistance level or a predefined profit target.
Tags: Use tags or comments in TradingView to label and organize your analysis. For example, you could tag your entry as "Bullish Engulfing Entry," your stop-loss level as "SL," and your take-profit level as "TP."
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