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A candlestick is a type of price chart that displays the open, high, low, and close of a trading period in a single visual bar. The filled or colored body shows the range between open and close, while the wicks (shadows) show the high and low extremes. Candlestick patterns are widely used in technical analysis to identify potential reversals or continuations.
A bullish engulfing candlestick pattern on the daily XAUUSD chart — where a large green candle completely covers the previous red candle — may signal a reversal from a downtrend to an uptrend.
