Understanding Candlestick Patterns for Better Trading Decisions

Candlestick patterns play a crucial role in technical analysis, helping traders identify potential market trends. Here are some important patterns you should know:

✅ Buy Signals:

Dragonfly Doji – Indicates a possible bullish reversal.

Morning Star – A three-candle pattern showing trend reversal.

Bullish Engulfing – A strong signal for upward momentum.

Hanging Man – Can indicate a potential reversal to the upside.

Three White Crows – A strong bullish continuation pattern.

❌ Sell Signals:

Hammer – A bearish reversal signal when appearing at the top.

Three Black Crows – A sign of strong downward movement.

Gravestone Doji – Indicates bearish pressure and a potential reversal.

⚖ Indecision:

Doji – Shows market uncertainty; traders should wait for confirmation before making a move.

Understanding these candlestick formations can help you make better trading decisions and maximize profits. Keep an eye on these patterns in your charts!

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