Does Bullish engulfing in an uptrend actually work on XOM? We tested it

This strategy made money overall, turning a 32% gain on XOM with a solid win rate of nearly 58%, but the ride was lumpy. The worst stretch was a 13.3% drawdown that lasted over a year, from October 2024 into early 2026, which would have been painful to sit through. With only 33 trades over the entire period, the result is not driven by a huge number of bets, but the average trade return of 0.9% suggests each win was modest. The entry-timing edge is strong, as your real entries beat 86% of random entry runs, meaning the specific moment you got in was a key driver of the profit. However, the consistency figure shows the edge was not steady, as the strategy was profitable in only 3 out of 4 walk-forward periods, so the overall gain likely came from one or two strong stretches rather than reliable performance across all market conditions.