Hi guys:
If you want to learn Candlestick Patterns So this help full article for you:
1️⃣. Bullish Engulfing
- Indicates: Strong reversal to the upside.
- Appearance: A small red candle followed by a large green candle that engulfs the previous one.
- Usage: Best used at support levels or after a downtrend.
2️⃣. Bearish Engulfing
- Indicates: Strong reversal to the downside.
- Appearance: A small green candle followed by a large red candle that engulfs the previous one.
- Usage: Best used at resistance levels or after an uptrend.
3️⃣. Hammer (Pin Bar)
- Indicate: Bullish reversal signal.
- Appearance: Small body with a long lower wick and minimal upper wick.
- Usage: After a downtrend or at support levels, ideally confirmed with a subsequent green candle.
4️⃣. Shooting Star
- Indicates: Bearish reversal signal.
- Appearance: Small body with a long upper wick and little to no lower wick.
- Usage: After an uptrend or at resistance levels.
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6️⃣. Morning Star
- Indicates: Strong bullish reversal.
- Appearance: A 3-candle pattern consisting of a large red candle, followed by a small candle (can be red, green, or Doji), and then a large green candle.
- Usage: After a downtrend.
6️⃣. Evening Star
- Indicates: Strong bearish reversal.
- Appearance: A 3-candle pattern consisting of a large green candle, followed by a small candle (can be red, green, or Doji), and then a large red candle.
- Usage: After an uptrend.
7️⃣. Doji
- Indicates: Indecision or possible reversal, depending on context.
- Appearance: Small body with long wicks on both sides.
- Usage: At key support or resistance zones, or after a strong move, waiting for a confirmation candle.
8️⃣. Tweezer Top
- Indicates: Bearish reversal.
- Appearance: Two candles at the top with equal highs.
- Usage: After an uptrend, especially near resistance levels.
9️⃣. Tweezer Bottom
- Indicates: Bullish reversal.
- Appearance: Two candles at the bottom with equal lows.
- Usage: After a downtrend, especially near support levels.
Bonus Tip✅
- Combining Patterns: Always use candlestick patterns in conjunction with support/resistance levels, trendlines, or indicators like EMA for better accuracy. The location of the pattern is often more critical than the pattern itself.
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