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Japanese candlesticks are a unique technique for reading price reactions and understanding the psychology of investors through a set of patterns that provide early signals of great value to analysts. We will explain the patterns.
1- Hammer Pattern.
- It is a pattern that resembles a hammer and consists of only one candle.
- The body of the candle is small.
- It has a very small upper shadow or may not have an upper shadow at all, and the longer the lower shadow is compared to the body of the candle, the better.
- It appears at the end of the downward trend to indicate the possibility of a reversal.
- As shown in the picture ⬇️
2- Inverted Hammer Pattern.
The body of the candle is small.
Its upper shadow is at least twice the body of the candle.
It has a very small lower shadow or may not have a lower shadow at all.
It appears at the end of the downward trend to indicate the possibility of a reversal.
- As shown in the picture ⬇️
3- Hanging Man Pattern.
It is a pattern that resembles a hanging man.
The body of the candle is small.
It has a very small upper shadow or may not have an upper shadow at all, and the longer the lower shadow is compared to the body of the candle, the better.
It appears at the end of the upward trend to indicate the possibility of a reversal.
- As shown in the picture ⬇️
4- Shooting Star Pattern.
It is a pattern that resembles a shooting star in the night sky.
The body of the candle is small.
Its upper shadow is at least twice the body of the candle, and it has a very small lower shadow. The longer the upper shadow is compared to the body of the candle, the better.
It appears at the end of the upward trend to indicate the possibility of a reversal.
- As shown in the picture ⬇️
5- Doji Pattern.
The body of the candle is a line.
The upper and lower shadows are usually small.
If it appears at the end of an upward trend, it is considered a sign of weakness for the trend and a warning of a reversal from upward to downward.
If it appears in a downward direction, it is considered a sign of weakness and a warning of a reversal from downward to upward...
- As shown in the picture ⬇️
6- High Wave Candle Pattern.
The body of the candle is small.
The candle's shadows are long and the candle's direction is not important.
It is a neutral pattern consisting of one candle, occurring when buying and selling forces are equal during high momentum times.
It indicates the possibility of a reversal in the price direction, especially if it occurs at strong price levels (support or resistance or trend).
- As shown in the picture ⬇️
🚨 Tomorrow, God willing, I will write to you the remaining models of Japanese candlesticks.
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