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To all beginner traders:šµš°
These two candlestick patterns are known as confirmation candles. They help confirm whether the price is likely to move up or down.
The first one on the left is a hammer candle. When it appears after a downtrend, it signals a potential reversal to the upside.
The two green candles to the right are known as bullish engulfing candles. Why are they called that? Because they completely engulf the body of the previous red candle. The red candle has small upper and lower wicks and a large body ā a typical sign of strong selling pressure in a downtrend. When engulfing candles appear afterward, it often indicates a shift toward bullish momentum.
In an uptrend, the colors of these candles are typically reversed.
Good luck out there, and don't forget to follow me ā Iāll be posting 4 confirmed personal trades every day!
Stay sharp and stay well.ā ļøš°#EthereumFuture
