So here's the thing about bullish engulfing candles—they're supposed to mark a turning point where bears finally give up and bulls take over. But does it actually work? Thomas Bulkowski ran the numbers on this, and it turns out bullish reversals happen about 63% of the time after you see one of these patterns. Not exactly a slam dunk, but better than flipping a coin. The pattern itself looks straightforward: the real body of the current candle completely swallows up the previous one. When it shows up after a downtrend, traders get excited thinking a bounce is coming. That 63% hit rate tells you there's something real happening—though it also means you're wrong more than a third of the time if you just blindly chase every setup you see.