🕯️ Famous candles in candlestick chart and their meanings
1. Bullish Candle
Shape: Long green (or white) body, upper wick, no lower wick or a small one
Meaning: There is pressure from buyers in the market, price moved up from below
Market Impact: If such a candle forms at a support level, the market may go up (Uptrend continues)
2. Bearish Candle
Shape: Long red (or black) body, lower wick, no upper wick or a small one
Meaning: There is pressure from sellers in the market, price dropped from above
Market Impact: If it forms at a resistance level, the market may go down (Downtrend)
3. Hammer Candle
Shape: Small body, long lower wick, no upper wick or a small one
Meaning: Buyers took control of the market after a downturn
Market Impact: If it forms at a support level, the market may go up (Bullish Reversal)
4. Shooting Star
Shape: Small body, long upper wick, no lower wick or a small one
Meaning: Price went up but buyers could not hold, sellers brought it down
Market Impact: If it forms at a resistance level, the market may come down (Bearish Reversal)
5. Doji Candle
Shape: Almost no body, equal upper and lower wicks
Meaning: Buyers and sellers are equal in the market, uncertainty
Market Impact: If it forms at any level, it indicates a possible trend reversal
📌 Additional Information:
Wick: The thin part that is above or below the candle, it shows the high and low.
Body: The thick part of the candle, it shows the open and close price.
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