Do you want to catch the trend reversal before it happens?
Master these 4 candlestick patterns that every successful trader uses!
Letโs break it down Phoenix style ๐๏ธ๐ฅ๐
1๏ธโฃ Bullish Engulfing ๐ข
๐ Appears in a downtrend
๐ข A big green candle completely engulfs the previous red candle.
โ Signal: Buyers are taking over.
๐ Phoenix Strategy:
Confirm with RSI < 30 or near support
Entry: Above the green candle's high
Stop Loss: Below the engulfing candle's low
Target: Next resistance or 1:2 risk-reward
2๏ธโฃ Bearish Engulfing ๐ด
๐ Appears in an uptrend
๐ด A big red candle engulfs the previous green candle.
โ Signal: Sellers are taking control.
๐ Phoenix Strategy:
Confirm with RSI > 70 or near resistance
Entry: Below the red candle's low
Stop Loss: Above the engulfing candle's high
Target: Next support or 1:2 RR
3๏ธโฃ Bullish Hammer ๐จ๐ข
๐ Appears at the bottom of a downtrend
๐ข Small body with a long lower wick (buyers stepped in).
โ Signal: Reversal to the upside is likely.
๐ Phoenix Strategy:
Confirm near strong support level
Entry: Above the hammerโs high
Stop Loss: Below the wick
Target: Resistance zone or EMA 20
4๏ธโฃ Bearish Hammer (Shooting Star) ๐จ๐ด
๐ Appears at the top of an uptrend
๐ด Small body with a long upper wick (buyers failed).
โ Signal: Reversal to the downside possible.
๐ Phoenix Strategy:
Confirm near resistance or trendline
Entry: After red candle confirmation
Stop Loss: Above the wick
Target: Support zone or EMA 50
๐ก Phoenix Coin Pro Tip:
๐ Combine these candlestick patterns with:
โ๏ธ RSI / MACD / EMA Crossovers
โ๏ธ Support & Resistance zones
โ๏ธ Price action confirmation
Never trade just on patterns alone. Always manage risk with a 1:2 or better risk-reward ratio!
๐ฅ Save this post as your go-to reversal cheat sheet!
๐ฌ Which pattern is your favorite to trade with? Let us know in the comments!
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