#MyStrategyEvolution That's great! Candlestick pattern strategies can be powerful tools for crypto trading when used with proper confirmation and risk management. Here’s a brief overview tailored to crypto markets:
🔍 Common Candlestick Patterns in Crypto:
1. Bullish Patterns:
Hammer: Signals reversal after a downtrend.
Bullish Engulfing: Strong reversal indicator.
Morning Star: Three-candle pattern, strong bullish signal.
2. Bearish Patterns:
Shooting Star: Reversal after an uptrend.
Bearish Engulfing: Strong bearish confirmation.
Evening Star: Reversal from bullish to bearish.
3. Indecision Patterns:
Doji: Market uncertainty; watch for confirmation.
Spinning Top: Low conviction, possible trend pause.
✅ Tips for Success:
Confirm with Volume: High volume strengthens pattern reliability.
Use Support/Resistance Levels: Combine patterns with S/R zones.
Avoid Low Timeframes: Patterns are more reliable on 4H and above.
Manage Risk: Use stop-loss based on candle size or structure.