Spinning Tops :
This Pattern Indicates Indecision Between Buyers and Sellers.
Marubozu:
When Candle has no upper and lower bodies Then this type of Candle is called Marubozu .This type of Pattern is Bullish(Buyers) reversal pattern.
A Black marubozu Is a Black body(for sellers) with no shadow. The open price equals High price and low price equals Clossing price.
This type of pattern is Bearish(seller) Reversal pattern.
DOJI :
Doji candle have same Open And Close Price . This pattern shows Indecision in The market. This is much like a Draw.
Whenever a Doji forms on your chart , Pay special attention to the preceding Candle sticks.
In Short , Candlestick patterns Are essential when Trading , They provide an inner view of the market depth.
Download the Indicator for pattern recognition mt4 indicators and templates for trading .
Hammer and Hanging Man :
They have small bodies , Always having long lower shadows.And short upper shadows.
A Hammer is Bullish reversal pattern That forms during a downtrend.
Just because you see a Hammer is not essential for a Buy order , Wait for more Bullish patterns to show up.
Recognition criteria:
- The long shadow is about two or three times the real Body.
- Little or no upper shadow.
- real body is at upper end of the Candle.
- The color of real body is not important.
The pattern indicates that there are no more buyers left to push the price.
Recognition criteria:
- A long lower shadow which is about two or three tines the real body.
- Little or no upper shadow.
- Real body is at upper end of Candle.
- the color of real body is not important.
Inverted Hammer and Shooting star:
These patterns are much like hamer and hanging man , The only difference is that they form a long Upper body instead of Long lower bodies.They also usually form on the end of an uptrend or downtrend.
The Inverted hammer occurs when price has been fallen , It suggest the end of a down trend momentum.
This pattern has alwas a Long upper body and This is a Sign of Reversal.
The Shooting star Is bearish reversal pattern.It occurs when price has been rising. It indicates a shift of momentum .
But before putting an order Confirm your pattern By More Bullish patterns .
These patterns were single candle patterns, You also need to confirm the trend By double candlestick patterns.
Dual Candle stick Patterns :
Engulfing Candles :
A Bullish Engulfing pattern is a Two candle stick patern that signals a Strong Up move coming. It happens when a Bearish Candle is supported by a Strong Bullish candle.
This is a Bullish reversal pattern.
A Bearish Engulfing Pattern Is opposite of Bullish engulfing Pattern. It suggests a Strong Down trend Coming , This happens when a Bullish candle is followed By a Strong Bearish Candle.
This is a Bearish reversal pattern.
Tweezer Bottoms and Tops :
The tweezers are Double candle patterns. These are reversal patterns.It looks some thing like this.
Tweezers Have following Characteristics.
- The first candle is same as overall Trend.
- The second candle is opposite to overall Trend.
- The shadow of candles should be of equal length.Tweezer Tops should have same highs and tweezer bottoms should have same low.
Triple Candle stick Patterns :
Evening and morning Star Pattern :
