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Commodities · candlestick pattern

Bullish engulfing on Gold

On Gold the bullish engulfing showed up 30 times. The target came first 30% of the time, the stop 53%, and 17% went nowhere within 12 candles.

Counted on Gold futures: daily candles from January 2015 and hourly candles from September 2024.

By timeframe

TimeframeFoundTarget firstStop firstWent nowhere
Daily850%50%0%
Hourly2223%55%23%

Gold against the rest

ChartsFoundTarget firstStop firstWent nowhere
Gold3030%53%17%
All Commodities charts9631%55%14%
Every market17,56334%56%10%

The last 8 times

Counted by the Trading Class research engine on real past candles: entry at the signal candle's close, target 1.5 × ATR(14), stop 1 × ATR(14), 12 candles to decide, a candle that touches both counts as the stop. How we count. Past data, not a forecast and not advice.

What the bullish engulfing is

A green body swallows the red one before it. Buyers took control.

Picture a small red fish, then a bigger green fish that swallows it whole. In a bullish engulfing pattern, the green candle's body is so big it covers the whole red body before it. After a fall, it shows buyers suddenly took over.

The full bullish engulfing lesson, video and quiz ›

Other patterns on Gold

Inside bar · Stochastic bearish cross · Spinning top · Stochastic bullish cross · MACD bearish cross · Doji · RSI overbought drop · Volume profile bounce · Volume profile rejection · EMA 9/21 bearish cross · all of them

The bullish engulfing elsewhere

Silver · Crude oil · Sensex · Nifty 50 · Dow Jones · S&P 500 · Nikkei 225 · Sony · GBP/USD · EUR/JPY

Questions

How often does the bullish engulfing work on Gold?

In 30 cases on Gold, the target (1.5 × ATR) came before the stop (1 × ATR) 30% of the time and the stop came first 53%; 17% went nowhere within 12 candles.

What is the bullish engulfing?

A green body swallows the red one before it. Buyers took control.