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🟢Powerful Candlestick Patterns:𝗣𝗮𝗿𝘁-18
🎖️18. Bearish Abandoned Baby

🔹A bearish abandoned baby is a pattern that suggests bearish reversal. The first candle is strongly bullish. The second one opens following a gap and is a doji. Strong bearish candle that gaps down and indicates a trend change is the third candle.

🔹The bearish abandoned baby pattern forms when the market sentiment shifts from bullish to bearish. The initial strongly bullish candle represents the buying pressure in the market, but the doji candle that follows indicates indecision and a weakening of the buying pressure. The final strong bearish candle that gaps down then confirms the reversal, as the sellers take control of the market.
🔹According to a study titled “The Effectiveness of Technical Analysis: An Empirical Study of Candlestick Patterns” by Professors Lu Zheng and Wenjun Xie, published in the Journal of Empirical Finance, the Bearish Abandoned Baby pattern has a success rate of approximately 78% in predicting bearish reversals.
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🟢Powerful Candlestick Patterns:𝗣𝗮𝗿𝘁-16
🎖️16. Evening Star
🔹An evening star candlestick pattern is a bearish reversal pattern. Evening star pattern consists of three candles. The first candle is a robustly positive one. The second candle is a doji, which indicates both buyer weakness and the indecision of the market players. A strong bearish candle that marks the trend change is the third one.

🔹The strong bullish candle at the beginning represents the buying pressure in the market, while the doji candle that follows indicates indecision and a weakening of the buying pressure. The final strong bearish candle then confirms the bearish reversal, signaling that the sellers have taken control of the market.
🔹According to a study published in the “Journal of Technical Analysis” by David Aronson and Timothy Masters, titled “Evaluating the Performance of Candlestick Patterns in Financial Markets,” the Evening Star pattern has a success rate of approximately 69% in predicting bearish reversals. 
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🟢Powerful Candlestick Patterns:𝗣𝗮𝗿𝘁-14
🎖️14. Bearish Harami
🔹A bearish harami pattern is a two-candle pattern. A bearish harami pattern results from a small body (Red) candle developing after a larger body (Green). Usually showing a possible bearish trend reversal, this pattern appears at the top of the price chart.

🔹The bearish harami pattern is a strong bearish signal that suggests the market may be near a top or a significant high. The large bullish candlestick represents the buying pressure in the market, while the smaller bearish candlestick that follows shows the bears gaining control and driving prices lower. To bearish harami, one compares the bearish engulfing pattern, as both suggest the market may be near a top or a significant high.
🔹According to a study titled “The Effectiveness of Candlestick Patterns in Financial Markets” conducted by Professor Wing-Keung Wong and his team at the Department of Economics, Hong Kong Baptist University, the bearish harami pattern has a success rate of approximately 63% in predicting bearish reversals. 

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🟢Powerful Candlestick Patterns:𝗣𝗮𝗿𝘁-12
🎖️12. Inverted Hammer
🔹The inverted hammer candlestick pattern is a single candle pattern that is typically formed following a downtrend. The inverted hammer is reminiscent of the hammer candlestick pattern, but with an upside-down appearance.

🔹The long upper shadow of the inverted hammer candlestick represents the bullish buying pressure that emerged during the session, pushing the price back up towards the opening level. This reversal signal suggests that the selling pressure may have been exhausted, and the market could be poised for a potential trend reversal or a bullish continuation.
🔹According to a study conducted by Corey Rosenbloom, CFA, in his research published on the website “Afraid to Trade,” the inverted hammer pattern has shown a success rate of approximately 65% in predicting bullish reversals. Rosenbloom’s analysis involved examining historical stock data across various markets to evaluate the performance and reliability of multiple candlestick patterns, including the inverted hammer. 
🔹Bearish Reversal Patterns: Bearish reversal patterns in candlestick charts indicate a potential shift from an uptrend to a downtrend, suggesting that sellers are starting to dominate the market. Examples include the Shooting Star, Bearish Engulfing, and Evening Star patterns, each defined by distinct formations that traders use to predict a possible market decline. Let’s learn 13 bearish reversal patterns. 

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🟢Powerful Candlestick Patterns:𝗣𝗮𝗿𝘁-11
🎖️13. Bearish Engulfing
🔹A bearish engulfing pattern suggests that market control has lately been undertaken by sellers. Furthermore indicating that the number of sellers has exceeded the number of buyers is a bearish engulfing pattern. Seen on the top of the price chart, this candlestick pattern is thought of as the possible top of the market.

🔹The Bearish Engulfing pattern consists of two candles: the first is a smaller bullish candle, and the second is a larger bearish candle that completely engulfs the body of the first candle. This formation suggests a shift in momentum from buyers to sellers.
🔹According to a study conducted by the Technical Analysis Research & Education (TARE) Foundation, published in their report titled “Analyzing the Efficacy of Candlestick Patterns in Modern Markets,” the bearish engulfing pattern has a success rate of approximately 72% in predicting bearish reversals. 

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