📊 Candlestick Cheatsheet
Candlestick charts are commonly used in trading to analyze market trends and make trading decisions. Candlesticks can be categorized as bullish or bearish, depending on whether the price has increased or decreased over a given period.
It is important to note that while candlestick patterns can be useful in predicting market movements, they should not be used in isolation, and other indicators and analysis should also be considered. It is also important to have a clear understanding of the market and its underlying fundamentals before making any trading decisions.
🔹 Rails
The rails pattern is a two-candlestick pattern that typically occurs during a downtrend. The first candle is a long red candle, followed by a long green candle that opens below the previous day's close but closes above it, creating a rail-like pattern.
🔹 Three White Soldiers
The three white soldiers pattern is a bullish pattern that consists of three consecutive long green candles with small or no wicks. It typically occurs after a downtrend and suggests a reversal in the market's direction.
🔹 Three Black Crows
The three black crows pattern is a bearish pattern that consists of three consecutive long red candles with small or no wicks. It typically occurs after an uptrend and suggests a reversal in the market's direction.
🔹 Mat Hold
The mat hold pattern is a five-candlestick pattern that occurs during a bullish trend. It consists of a long green candle, followed by three small candles with lower highs and higher lows, and ending with another long green candle.
🔹 Pinbar
The pinbar pattern is a single candlestick pattern that has a long tail or wick and a small body. The tail should be at least two times the length of the body. The pattern suggests a reversal in the market's direction.
🔹 Engulfing
The engulfing pattern is a two-candlestick pattern that occurs when the second candle's body completely engulfs the previous candle's body. A bullish engulfing pattern occurs during a downtrend and suggests a reversal in the market's direction, while a bearish engulfing pattern occurs during an uptrend and suggests a reversal in the market's direction.
🔹 Morning Star
The morning star pattern is a three-candlestick pattern that typically occurs after a downtrend. It consists of a long red candle, a small candle, and a long green candle, with the small candle gapping down from the previous day's close. The pattern suggests a reversal in the market's direction.
🔹 Evening Star
The evening star pattern is the opposite of the morning star pattern and typically occurs after an uptrend. It consists of a long green candle, a small candle, and a long red candle, with the small candle gapping up from the previous day's close. The pattern suggests a reversal in the market's direction.
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It is important to note that while candlestick patterns can be useful in predicting market movements, they should not be used in isolation, and other indicators and analysis should also be considered. It is also important to have a clear understanding of the market and its underlying fundamentals before making any trading decisions.
🔹 Rails
The rails pattern is a two-candlestick pattern that typically occurs during a downtrend. The first candle is a long red candle, followed by a long green candle that opens below the previous day's close but closes above it, creating a rail-like pattern.
🔹 Three White Soldiers
The three white soldiers pattern is a bullish pattern that consists of three consecutive long green candles with small or no wicks. It typically occurs after a downtrend and suggests a reversal in the market's direction.
🔹 Three Black Crows
The three black crows pattern is a bearish pattern that consists of three consecutive long red candles with small or no wicks. It typically occurs after an uptrend and suggests a reversal in the market's direction.
🔹 Mat Hold
The mat hold pattern is a five-candlestick pattern that occurs during a bullish trend. It consists of a long green candle, followed by three small candles with lower highs and higher lows, and ending with another long green candle.
🔹 Pinbar
The pinbar pattern is a single candlestick pattern that has a long tail or wick and a small body. The tail should be at least two times the length of the body. The pattern suggests a reversal in the market's direction.
🔹 Engulfing
The engulfing pattern is a two-candlestick pattern that occurs when the second candle's body completely engulfs the previous candle's body. A bullish engulfing pattern occurs during a downtrend and suggests a reversal in the market's direction, while a bearish engulfing pattern occurs during an uptrend and suggests a reversal in the market's direction.
🔹 Morning Star
The morning star pattern is a three-candlestick pattern that typically occurs after a downtrend. It consists of a long red candle, a small candle, and a long green candle, with the small candle gapping down from the previous day's close. The pattern suggests a reversal in the market's direction.
🔹 Evening Star
The evening star pattern is the opposite of the morning star pattern and typically occurs after an uptrend. It consists of a long green candle, a small candle, and a long red candle, with the small candle gapping up from the previous day's close. The pattern suggests a reversal in the market's direction.
👤 @algobuddy
📅 Daily Ideas about market update, psychology & indicators
❤️ If you appreciate our work, please like, comment and follow ❤️
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