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Complete Candlestick Patterns Forex

The document provides a comprehensive guide to Forex candlestick patterns, detailing key patterns such as the Hammer, Shooting Star, Doji, Bullish and Bearish Engulfing, Morning Star, and Evening Star. Each pattern is described with its characteristics, significance, and the market context in which it appears, indicating potential reversals or indecision. Diagrams accompany the descriptions to illustrate each pattern visually.

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6 views2 pages

Complete Candlestick Patterns Forex

The document provides a comprehensive guide to Forex candlestick patterns, detailing key patterns such as the Hammer, Shooting Star, Doji, Bullish and Bearish Engulfing, Morning Star, and Evening Star. Each pattern is described with its characteristics, significance, and the market context in which it appears, indicating potential reversals or indecision. Diagrams accompany the descriptions to illustrate each pattern visually.

Uploaded by

alihassan961427
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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Complete Forex Candlestick Patterns Guide

Complete Forex Candlestick Patterns with Diagrams

Hammer (Bullish Reversal)

Small body near the top of the candle with a long lower wick (at least twice the body).
Little or no upper wick.
Appears after a downtrend indicating a potential bullish reversal.
Signifies strong buying interest at lower prices.

[Diagram: Hammer (Bullish Reversal)]

Shooting Star (Bearish Reversal)

Small body near the bottom of the candle with a long upper wick.
Little or no lower wick.
Appears after an uptrend signaling a potential bearish reversal.
Shows rejection of higher prices.

[Diagram: Shooting Star (Bearish Reversal)]

Doji (Indecision)

Open and close prices are virtually equal.


Small or no body with long wicks.
Indicates market indecision.
Can signal reversal or continuation depending on context.

[Diagram: Doji (Indecision)]

Bullish Engulfing

A smaller bearish candle followed by a larger bullish candle that completely engulfs the previous
candle's body.
Complete Forex Candlestick Patterns Guide

Appears after a downtrend signaling bullish reversal.


Shows strong buying pressure.

[Diagram: Bullish Engulfing]

Bearish Engulfing

A smaller bullish candle followed by a larger bearish candle that completely engulfs the previous
candle's body.
Appears after an uptrend signaling bearish reversal.
Shows strong selling pressure.

[Diagram: Bearish Engulfing]

Morning Star (Bullish Reversal)

Three-candle pattern:
1. Large bearish candle.
2. Small-bodied candle (Doji or spinning top) that gaps lower.
3. Large bullish candle that closes above midpoint of candle 1.
Signals a strong bullish reversal.

[Diagram: Morning Star (Bullish Reversal)]

Evening Star (Bearish Reversal)

Three-candle pattern:
1. Large bullish candle.
2. Small-bodied candle that gaps higher.
3. Large bearish candle that closes below midpoint of candle 1.
Signals a strong bearish reversal.

[Diagram: Evening Star (Bearish Reversal)]

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