Are engulfing candle patterns more effective in short-term or long-term cryptocurrency trading?

1 answers

• iambetterJan 11, 2023 · 3 years ago
  At BYDFi, we believe that engulfing candle patterns can be effective in both short-term and long-term cryptocurrency trading. These patterns can provide valuable insights into market sentiment and potential trend reversals. However, it's important to combine engulfing candle patterns with other technical indicators and analysis to increase the probability of successful trades. Traders should also consider their own risk tolerance and trading strategy when using engulfing candle patterns as part of their decision-making process.
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