๐ 3 Advanced Candlestick Patterns Every Crypto Trader Must Know
Hello crypto community! ๐
This time I want to share about 3 advanced candlestick patterns that often appear on charts and can help us read market movements more accurately. Letโs dive in until the end!
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1๏ธโฃ Three Soldiers & Three Crows
๐ Three White Soldiers are 3 consecutive green candles with long bodies and small shadows. This is a strong bullish reversal signal.
๐ Three Black Crows are the opposite, 3 consecutive red candlesโindicating a bearish reversal.
๐ Tips: Make sure this pattern appears after a downtrend (for soldiers) or an uptrend (for crows), and volume increases.
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2๏ธโฃ Evening Star & Morning Star
๐ Evening Star is a bearish reversal formation:
Long bullish candle
Doji/spinning top
Long bearish candle
๐ฅ Morning Star is the opposite and a strong signal for a price rebound.
๐ Tips: This pattern is more valid if it appears in resistance/support areas and is supported by other indicators (MACD, RSI).
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3๏ธโฃ Abandoned Baby
โ ๏ธ A rare but powerful pattern!
Occurs when there is a gap between candle 1 and the doji in the middle, then another gap to the 3rd candle.
๐ Abandoned Baby Bearish: up โ doji (gap) โ down
๐ Abandoned Baby Bullish: down โ doji (gap) โ up
๐ Tips: Often appears when the market is overreacting (major news). Confirmation is very important!
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โ๏ธ Conclusion
Candlestick patterns are tools, not certain predictions. Combine them with technical indicators and good risk management. Donโt just enter trades because a pattern appears ๐๐๐
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๐จ๏ธ What about you? Have you ever used these patterns while trading? Share your experiences in the comments!
Don't forget to follow and like if this content is helpful ๐๐ฅ