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Candlestick Patterns TextOnly

The document outlines various candlestick patterns used in technical analysis to indicate potential market reversals or continuations. Key patterns include the Hammer, Inverted Hammer, Bullish and Bearish Engulfing, Morning and Evening Stars, Doji, Shooting Star, Spinning Top, and Marubozu. Each pattern provides insights into market sentiment and possible future price movements.

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merijoni42
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16 views10 pages

Candlestick Patterns TextOnly

The document outlines various candlestick patterns used in technical analysis to indicate potential market reversals or continuations. Key patterns include the Hammer, Inverted Hammer, Bullish and Bearish Engulfing, Morning and Evening Stars, Doji, Shooting Star, Spinning Top, and Marubozu. Each pattern provides insights into market sentiment and possible future price movements.

Uploaded by

merijoni42
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Hammer

Appears after a downtrend. It signals a potential bullish reversal, indicating that buyers may be

gaining control.
Inverted Hammer

Forms after a downtrend and may suggest a bullish reversal. It shows buyers tried to push the price

higher despite opening low.


Bullish Engulfing

Occurs when a small red candle is followed by a large green candle that completely engulfs it. It

signals a strong shift in momentum toward buyers.


Bearish Engulfing

A small green candle followed by a large red one that engulfs it. This signals strong selling pressure

and a potential downward move.


Morning Star

A three-candle pattern that signals a bullish reversal. It's composed of a long red candle, a

small-bodied candle, and a long green candle.


Evening Star

Opposite of the Morning Star. This three-candle pattern signals a bearish reversal and indicates

rising selling pressure.


Doji

Indicates indecision in the market. Depending on context, it can signal a potential reversal or

continuation.
Shooting Star

Appears after an uptrend. A small body with a long upper wick indicates a bearish reversal as

buying was rejected.


Spinning Top

Shows indecision with small bodies and wicks on both sides. It may suggest a pause or reversal in

trend.
Marubozu

A candle with no wicks, showing strong momentum in one direction. A bullish marubozu suggests

further upward movement; a bearish one suggests continuation downward.

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