Understand Bullish And Bearish Candlestick pattern✅ And Earn Up To $120 Daily on binance🚨
To understand bullish and bearish candlestick patterns, you need to learn the basics of candlestick charts and how these patterns indicate market trends. Candlestick patterns are a visual representation of market sentiment and price movements. Here’s a guide to get started and use them effectively for trading, potentially earning profits on platforms like Binance.
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1. Basics of a Candlestick
Each candlestick represents four price points within a specific timeframe:
Open: The price at the beginning of the period.
High: The highest price reached during the period.
Low: The lowest price during the period.
Close: The price at the end of the period.
Candlestick Anatomy:
Body: The rectangle between the open and close prices.
Bullish Candlestick: Close > Open (price goes up; often green/white).
Bearish Candlestick: Close < Open (price goes down; often red/black).
Wicks (Shadows): Lines extending above and below the body, representing high and low prices.
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2. Bullish Candlestick Patterns
These patterns indicate potential price increases or reversals to the upside.
Key Bullish Patterns:
1. Hammer:
Small body at the top, long lower wick.
Signals a reversal after a downtrend.
2. Bullish Engulfing:
A small bearish candle is followed by a larger bullish candle.
Indicates strong buyer momentum.
3. Morning Star:
A three-candle pattern: bearish → small-bodied → bullish.
Signals the reversal of a downtrend.
4. Piercing Line:
A bullish candle opens below the previous bearish candle but closes above its midpoint.
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3. Bearish Candlestick Patterns
These patterns suggest potential price decreases or reversals to the downside.
Key Bearish Patterns:
1. Shooting Star:
Small body near the bottom, long upper wick.
Indicates a reversal after an uptrend.
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