Forex Candlesticks And Their Meaning – Doji – A doji candlestick pattern has an upper and lower shadow, and either has little or no real body. A distinctive feature of the Doji Candlestick is that the Open and Close are approximately the same, which does not create a real body or a very small body as you can see in this image. In simpler terms, there is no green or red color in a Doji because the Open and Close are the same.
Twisting Top – The second neutral candlestick pattern, spinning top. This pattern has a small body and the body is usually between the top and bottom shade. Open and closed are very close to each other, so the body is small. Also, the body is somewhere between the upper and lower shadow.
Forex Candlesticks And Their Meaning
Hammer – This design is aptly named because it actually looks like a hammer. The Hammer candlestick pattern has a small body, a long lower shadow, and a smaller upper shadow. Also, the long lower shadow is usually at least twice the size of the body.
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Reverse Hammer – As the name suggests, this pattern is the reverse of the Hammer candlestick pattern we just discussed. Conversely, Hammer also has a small body but a long upper shadow. This upper shadow is usually at least twice the size of the body. This design usually has no lower shadow. If the shadow is low, it is usually very low. However, there is usually no undershadowing. The point is that Reverse Hammer’s small body with its long shadow is usually twice the size of the body.
Dragonfly Doji – As the name suggests, this pattern resembles a dragonfly. But more precisely, highs, lows, and lows are the same. It is followed by a long lower shadow. In its simplest form, the Dragonfly Doji usually looks like the letter “T”. Long lower shadow. You do. , up, open and closed are the same.
Bullish Engulfing – In the Bullish Engulfing pattern, the body of the Bullish Green candle completely engulfs the body of the Red Bear candle. In this picture, the body of the green candle is surrounding the body of the red candle. This is called a Bullish Candlestick Pattern. Bullish Green swallows Bearish Red.
Piercing Line – The Piercing Line pattern is similar to the previously discussed Bullish Engulfing pattern. Unlike Bullish Green, Bearish Red does not swallow the candle. However, the close of the Bullish Green candle is above the middle of the Bearish Red body. The key element of this pattern is the close of the green candle from the middle of the red candle. Bullish Green does not completely overwhelm Bearish Red. But the Bullish Green is above the middle of the bearish bearish body. It is the main thing of the piercing line. The close of the green candle is in the middle of the body of the red candle.
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Morning Star – Morning Star Pattern Bullish Candlestick. It consists of three candles. The first is a large bearish red candle. Next is a small candle. A large Bullish Green candle follows. These 3 candles are known as the “Morning Star” pattern. Big red. Small medium. Big green.
Morning Doji Star – This pattern is a slight variation of the previous morning star pattern. The main difference is in the middle candle. The previous Morning Star pattern had a small body in the middle candle. In this pattern, the middle candle is a doji. Hence the name Morning Doji Star. Again we have a large Bearish Red candle followed by a smaller candle. In this case, the smaller candle is a doji with no real body. And then there’s the big green candle. These 3 candles are known as the Morning Doji Star pattern. Big red. Doji. Big green.
Three White Soldiers – Three White Soldiers is an open candlestick pattern consisting of 3 medium-sized Bullish Green candles in a row. 3 candles usually have no longer or lower shadows. Again, 3 bodies are medium and large. In other words, there is no small body. A very simple pattern. 3 consecutive greens.
Shooting Star – Shooting Star Sign Long Upper Shadow, Small Lower Shadow and Small Body. Also, the long upper shadow is usually at least twice the size of the body.
Candlestick Patterns Explained In Detail
The Hanged Man – The Hanged Man is a bear candle. The candle has a small body, a long lower shadow, and a small upper shadow. Also, the long lower shadow is usually at least twice the size of the body.
Tombstone Doji – The Tombstone Doji is a bearish candle. Low, open and close are the same or very close together. In other words, there is no real body. Additionally, there is an upper shadow of the Tombstone Doji. Also, a long top shadow. You do. Low, open and closed, close together or very close together.
Bearish Engulfing – In the Bearish Engulfing pattern, the body of the Bearish Red candle completely engulfs the body of the Green Bullish candle. In this picture, the body of the Red Candle engulfs the body of the Green Candle. This is known as the Bearish Engulfing Candlestick Pattern. The bear swallows green with a reddish tint.
Dark Cloud Cover – The Dark Cloud Cover pattern is similar to the Bearish Engulfing pattern we just discussed. A bearish red candle does not swallow a bullish green candle. However, the close of the Bearish Red candlestick is below the middle of the Bullish Green body. The key element in this pattern is the close of the red candlestick, from the middle, below the green candlestick. Bearish Red doesn’t completely swallow Bullish Green. But the closeness of Bearish Red is below the midpoint of Bullish Green’s body. The main thing about Dark Cloud Cover. The close of the red candle is in the middle of the body of the green candle.
Dual Candlestick Patterns In Forex
Evening Star – Evening Star pattern, candle pattern. It consists of three candles. The first is a large Bullish Green candle. Next is a small candle. It is followed by a large Bearish Red candle. These 3 candles are known as the “Evening Star” pattern. Big green. Small Medium Large Red.
Evening Doji Star – This pattern is a slight variation of the previous evening star. The main difference is in the middle candle. The previous “Evening Star” design had a small body in the middle candle. In this pattern, the middle candle is a doji. Hence the name “Evening Doji Star”. Again we have a large Bullish Green Candlestick followed by a smaller candlestick. In this case, the smaller candle is a doji with no real body. It is followed by a large Bearish Red candle. These 3 candles are known as the Evening Doji Star pattern. Big green. Doji. Big red.
Three Black Crows – A bearish candlestick pattern consisting of three black crows followed by 3 medium and large Bearish Red candles in a row. 3 candles usually have no longer or lower shadows. Again, 3 bodies are medium and large. In other words, there is no small body. A very simple pattern. 3 reds in a row.
It is good to know the names and images of all these forex candlestick patterns. However, there is something more important to know. These candlestick patterns are completely useless if you don’t define them at a key price level. In other words, you should look for candlestick reversal patterns, especially at large price levels. Watch the Forex Candlestick Patterns video to learn more. We use several cookies to provide the best browsing experience. By continuing to use this website, you agree to our use of cookies.
Trading Candlestick Patterns 101: Introduction And Common Candlesticks & Patterns
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