MSFL takes support at 200sma with bullish engulfing pattern
A bullish engulfing pattern, bolstered by the 200-day SMA and heightened trading volume, signals a potential trend reversal.
A Bullish Engulfing Candle is a green candle formed after a red candle. This green candle totally covers the red candle and is bigger than the red candle. In a simpler way, in a bullish engulfing pattern, the red candle appears to be the small shadow of the green candle.
*At times, the 200-day SMA serves as a support level when the price is above the moving average or a resistance level when the price is below it.
Disclaimer- This analysis is solely for educational purposes and does not constitute any recommendation to buy or sell.
A Bullish Engulfing Candle is a green candle formed after a red candle. This green candle totally covers the red candle and is bigger than the red candle. In a simpler way, in a bullish engulfing pattern, the red candle appears to be the small shadow of the green candle.
*At times, the 200-day SMA serves as a support level when the price is above the moving average or a resistance level when the price is below it.
Disclaimer- This analysis is solely for educational purposes and does not constitute any recommendation to buy or sell.
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TRADE CANCELLED as THE ENTRY WAS AT THE HIGH OF THE BREAKOUT CANDLETrade ativo
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