Basic Candlesticks 5 - Morning Star, Evening Star and Shooting Star

Categories: Candlestick

Today we are going to introduce a group of stars, namely the morning star, evening star and the shooting star
Morning Star
The Morning Star is a bottom reversal signal. Like the morning star, the planet Mercury, it foretells the sunrise, or the rising prices. The pattern consists of a three day signal. A large black body […]

Today we are going to introduce a group of stars, namely the morning star, evening star and the shooting star Morning Star The Morning Star is a bottom reversal signal. Like the morning star, the planet Mercury, it foretells the sunrise, or the rising prices. The pattern consists of a three day signal. A large black body followed by small body black or white, that gaps below the black body. The third candlestick is a white body that closes into the black body. It ... Read More

Basic Candlesticks 4 - Hammer and Hanging Man

Categories: Candlestick

Hammer
Hammer are candlesticks with small bodies white or back near the high with a long lower shadow with little or no upper shadow. A bullish candlestick pattern during a downtrend. This pattern at the bottom of the down-trend is called a Hammer. It is hammering out a base. The Japanese word is takuri, meaning “trying […]

Hammer Hammer are candlesticks with small bodies white or back near the high with a long lower shadow with little or no upper shadow. A bullish candlestick pattern during a downtrend. This pattern at the bottom of the down-trend is called a Hammer. It is hammering out a base. The Japanese word is takuri, meaning "trying to gauge the depth". Read More

Basic Candlesticks 3 - Dark Cloud Cover, Piercing Pattern

Categories: Candlestick

Dark Cloud Cover
The Dark Cloud Cover Pattern is a two-day bearish pattern found at the end of a down trend or at the top of a congested price pattern. It is also a reversal pattern, for traders who love to trade reversals, this may be the candlestick pattern for you. The first day of the […]

Dark Cloud Cover The Dark Cloud Cover Pattern is a two-day bearish pattern found at the end of a down trend or at the top of a congested price pattern. It is also a reversal pattern, for traders who love to trade reversals, this may be the candlestick pattern for you. The first day of the pattern is a strong white real body. The second day's price opens higher than any of the previous day's trading range, the price closes below the 50% ... Read More

Basic Candlesticks 2 - Bullish Engulfing Pattern and Bearish Engulfing Pattern

Categories: Candlestick

Bullish Engulfing Pattern
The Bullish Engulfing Pattern can be found at the end of a downtrend. A white body is formed that opens lower and closes higher than the previous black candle open and close. It is a signal to the traders that a downtrend is coming to an end. This complete engulfing of the previous […]

Bullish Engulfing Pattern The Bullish Engulfing Pattern can be found at the end of a downtrend. A white body is formed that opens lower and closes higher than the previous black candle open and close. It is a signal to the traders that a downtrend is coming to an end. This complete engulfing of the previous day's body represents overwhelming buying pressure dissipating the selling pressure. Read More

Basic Candlesticks - Doji, Gravestone Doji, Long-legged Doji

Categories: Candlestick

You may think that candlesticks are intimidating, at first, that ever crossed my mind; but as I get to know them, I find them familiar to me. There are basically 12 candlesticks formations you need to know, the rest of the candlesticks are listed here (advance candlestick formations). Though not all candlesticks are accurate, but […]

You may think that candlesticks are intimidating, at first, that ever crossed my mind; but as I get to know them, I find them familiar to me. There are basically 12 candlesticks formations you need to know, the rest of the candlesticks are listed here (advance candlestick formations). Though not all candlesticks are accurate, but their high probability earn their status in many traders minds, after all we only enter high-probability trades. Their frequent price action causes the candlesticks to churn out ... Read More