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Candlestick Patterns

The document outlines various candlestick patterns used in technical analysis for trading. It describes bullish patterns such as Hammer, Bullish Engulfing, and Three White Soldiers, which indicate potential upward reversals, and bearish patterns like Shooting Star, Bearish Engulfing, and Three Black Crows, signaling potential downward reversals. Each pattern is characterized by specific candle formations and their implications for market trends.

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9 views1 page

Candlestick Patterns

The document outlines various candlestick patterns used in technical analysis for trading. It describes bullish patterns such as Hammer, Bullish Engulfing, and Three White Soldiers, which indicate potential upward reversals, and bearish patterns like Shooting Star, Bearish Engulfing, and Three Black Crows, signaling potential downward reversals. Each pattern is characterized by specific candle formations and their implications for market trends.

Uploaded by

balaefx96
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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Candlestick Patterns

Bullish Patterns
Hammer:

Occurs after a downtrend, indicates a potential reversal upward.

Bullish Engulfing:

A small red candle followed by a large green candle that engulfs it.

Morning Star:

Three candles: red, small-bodied, and a large green candle, signaling reversal.

Piercing Line:

A red candle followed by a green candle that opens lower and closes above the midpoint of the

red candle.

Three White Soldiers:

Three consecutive long green candles with small wicks, indicating strong buying pressure.

Bearish Patterns
Shooting Star:

Occurs after an uptrend, long upper wick and small body indicates a potential reversal downward.

Bearish Engulfing:

A small green candle followed by a large red candle that engulfs it.

Evening Star:

Three candles: green, small-bodied, and a large red candle, signaling reversal.

Dark Cloud Cover:

A green candle followed by a red candle that opens higher and closes below the midpoint of the

green candle.

Three Black Crows:

Three consecutive long red candles with small wicks, indicating strong selling pressure.

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