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📈 More Bullish Candlestick Patterns
1. Marubozu (Strongest Bullish Signal)
- Solid green candle without wick.
- Showing strong buying momentum throughout the session.
- Indicates continuation of the uptrend.
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2. Hammer
- Small body with long lower axis.
- Appears at the bottom of a downtrend, signaling a reversal.
- Indicates that sellers pushed prices down, but buyers regained control.
3. Reverse Hammer
- Small body with a long upper axis.
- Occurs in a downtrend and indicates a possible bullish reversal.
- Buyers are trying to push prices higher, indicating potential strength.
4. Spinning Top
- Small body with long upper and lower axes.
- Represents market uncertainty.
- Can lead to trend continuation or reversal, depending on the next candle.
5. Doji
- The opening and closing prices are almost the same, forming a cross-like shape.
- Indicates market uncertainty; neither buyers nor sellers are in control.
- Requires confirmation from the next candlestick.
6. Dragonfly Doji (Weakest Bullish Signal)
- The opening, closing and high prices are nearly equal, with a long lower wick.
- Signals a potential reversal when it appears at the bottom of a downtrend.
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📉 More Bearish Candlestick Patterns
1. Marubozu (Strongest Bearish Signal)
- Solid red candle without wick.
- Showing strong selling pressure throughout the session.
- Indicates further continuation of the downtrend.
2. Shooting Star
- Small body with a long upper axis.
- Appears at the top of an uptrend, signaling a bearish reversal.
- Sellers reject higher prices, pushing prices lower.
3. Hanging Man
- Small body with a long lower wick, resembling a hammer but appearing at the top of an uptrend.
- Signals a potential bearish reversal, indicating that buyers are losing control.
4. Spinning Top
- Small body with long axles on both sides.
- Represents uncertainty; can signal either a reversal or a continuation.
- Requires confirmation from the next candlestick.
5. Doji
- Similar to the neutral Doji, where the opening and closing prices are nearly the same.
- Indicates market doubt and requires further confirmation.
6. Gravestone Doji (Weakest Bearish Signal)
- The opening, closing, and low prices are nearly the same, forming a long upper wick.
- Appears at the top of an uptrend, indicating a potential reversal.
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🔍 How to Use This Pattern in Trading?
- Stronger signals (Marubozu, Hammer, Shooting Star) require less confirmation from other indicators.
- Weaker signals (Doji, Spinning Top) should be combined with volume analysis, trend lines and moving averages for better accuracy.
- Always confirm the pattern with the next candlestick and additional technical indicators before making a trade.
By understanding the power of single candlestick patterns, traders can make more informed decisions, increasing their chances of success in the markets.
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