Here's a full course on Candlestick & Chart Patterns This guide is perfect for beginners to intermediate traders who want to master price action analysis.
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1. Introduction to Candlestick Basics 🕯️
What is a Candlestick?
Body: Shows the open and close.
Wick/Shadow: Shows the high and low.
Color:
Green/White: Price went up
Red/Black: Price went down
Timeframes 🕒
1min, 5min, 1hr, 1D – patterns work across all timeframes!
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2. Single Candlestick Patterns 🕯️
Bullish Patterns (Reversal) 🚀
Hammer 🔨 – Small body, long lower wick
Inverted Hammer ⛏️ – Small body, long upper wick
Bearish Patterns (Reversal) 📉
Shooting Star ⭐ – Small body, long upper wick
Hanging Man 🪂 – Small body, long lower wick
Neutral Patterns ⚖️
Doji ✝️ – Open = Close (indecision)
Spinning Top 🌀 – Small body, long wicks
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3. Multi-Candlestick Patterns 🔥
Bullish Reversal 🚀
Bullish Engulfing 🟢🟥 – Big green body eats red
Morning Star 🌅 – Bear → Doji → Bull
Piercing Line ➕ – Red → Green closes > 50% into red
Bearish Reversal 🛑
Bearish Engulfing 🔴🟩 – Big red eats green
Evening Star 🌇 – Bull → Doji → Bear
Dark Cloud Cover ☁️ – Green → Red closes > 50% into green
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4. Continuation Patterns ➡️
Bullish Continuation 🐂
Rising Three ☝️☝️☝️ – Big green, few reds, another green
Three White Soldiers ⚔️⚔️⚔️ – 3 strong green candles
Bearish Continuation 🐻
Falling Three 👇👇👇 – Big red, few greens, another red
Three Black Crows 🦅🦅🦅 – 3 strong red candles
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5. Chart Patterns 📊
Reversal Patterns 🔄
Bullish
Double Bottom "W" shape
Inverse Head & Shoulders 🧠
Bearish
Double Top "M" shape
Head & Shoulders 👤
Continuation Patterns ⏩
Triangles
Ascending 🔺 – Bullish
Descending 🔻 – Bearish
Symmetrical ⚖️ – Breakout either way
Flags & Pennants 🚩
After strong move, consolidation, then continuation
Cup and Handle ☕ – Bullish
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6. Volume Confirmation 📈
Patterns are stronger when confirmed with high volume.
Weak volume = weak signal.
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7. Pro Tips for Mastery 🎯
Always confirm with support/resistance.
Use volume to validate breakouts.
Combine with RSI, MACD for extra edge.
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