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Candlestick Patterns Notes

The document outlines various candlestick patterns used in technical analysis, including Bullish Engulfing, Bearish Engulfing, Doji, Hammer, Shooting Star, Morning Star, Evening Star, and Spinning Top. Each pattern indicates potential market reversals or indecision, providing traders with insights into future price movements. Understanding these patterns can help traders make informed decisions in their trading strategies.

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16 views2 pages

Candlestick Patterns Notes

The document outlines various candlestick patterns used in technical analysis, including Bullish Engulfing, Bearish Engulfing, Doji, Hammer, Shooting Star, Morning Star, Evening Star, and Spinning Top. Each pattern indicates potential market reversals or indecision, providing traders with insights into future price movements. Understanding these patterns can help traders make informed decisions in their trading strategies.

Uploaded by

shreyashetttyuniversal
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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Candlestick Patterns - Colorful Notes

Introduction to Candlestick Patterns

Bullish Engulfing

A small red candle followed by a large green candle that completely engulfs the red one.

Indicates potential upward reversal after a downtrend.

Bearish Engulfing

A small green candle followed by a large red candle that completely engulfs the green one.

Indicates potential downward reversal after an uptrend.

Doji

The opening and closing prices are almost the same. Indicates market indecision.

Used as a warning for potential reversal.

Hammer

Small body at the top with a long lower wick. Appears after a downtrend.

Suggests potential bullish reversal.

Shooting Star

Small body at the bottom with a long upper wick. Appears after an uptrend.

Signals potential bearish reversal.

Morning Star

Three-candle pattern: a red candle, a small-bodied candle (gap down), followed by a green candle.

Indicates bullish reversal.

Evening Star

Three-candle pattern: a green candle, a small-bodied candle (gap up), followed by a red candle.

Indicates bearish reversal.


Candlestick Patterns - Colorful Notes

Spinning Top

Small body with upper and lower shadows. Indicates indecision.

Often seen before a reversal or pause.

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