Candle Stick Patterns
Candlestick charts are used by traders to determine possible price movement based on past patterns.
Candle Stick Patterns
Candlestick charts are used by traders to determine possible price movement based on past patterns.
Candlesticks are useful when trading as they show four price points (open, close, high, and low) throughout the period of time the trader specifies.
4 Data Points in Candlestick Pattern:
HIGH – The Highest Price over a fixed time period.
OPEN – The Opening Price.
LOW – The Lowest Price over a fixed time period.
CLOSE – The Closing Price.
Bullish Hammer:
A hammer candlestick pattern appears on the indicator chart when securities transactions are lower than openings. This design creates a hammer-shaped candlestick pattern with shadows at least twice as large as the pattern body. When the price is dead, the hammer has a little body.
In candlestick charting, a hammer is a price pattern that happens when an asset trades much lower than its initial price but rises during the period to close around the opening price. This design creates a hammer-shaped candlestick with a bottom shadow at least twice the size of the true body.
Morning star
It is a three-candlestick visual motif. It follows a downward trend and signals the beginning of an upward ascent. It indicates a reversal candlestick pattern, consisting of tall black candlesticks with small bodies and lengthy wicks. One of the morning stars captures a market scene. A morning star is a visual graphic pattern made up of three candlesticks that technical analysts interpret as optimistic signals.
A morning star forms after a declining trend and marks the beginning of an upward ascent. It indicates a reversal of the prior price trend. Traders look for the development of a morning star and then use additional indications to establish that a reversal is occurring.
Morning Doji star
It is a three-candlestick visual motif. It follows a downward trend and signals the beginning of an upward ascent. It indicates a reversal candlestick pattern, consisting of tall black candlesticks with small bodies and lengthy wicks.
One of the morning stars captures a market scene. A morning star is a visual graphic pattern made up of three candlesticks that technical analysts interpret as optimistic signals. A morning star forms after a declining trend and marks the beginning of an upward ascent. It indicates a reversal of the prior price trend. Traders look for the development of a morning star and then use additional indications to establish that a reversal is occurring.
Shooting star
A candlestick pattern appears when security opens in the market trend. It is a negative trend because the price increases frequently during the day, but sellers force the price down to its initial level. A shooting star candlestick has a lengthy top shadow, little or no lower shadow, and a little actual body at the day’s low. It occurs along an upward trend.
A shooting star, in other words, is a sort of candlestick that occurs when a security opens, advances strongly, and ends the day near the open. A candlestick must develop during a price gain to be termed a shooting star. Furthermore, the gap between the day’s highest price and the starting price must be more than double the size of the shooting star’s body. There should be very little to no shadow beneath the actual body.
Evening star
It’s a candlestick pattern for stock prices. When the trend is heading for a reversal pattern, it is employed for technical analysis. There are three bodies: a giant body, a tiny body, and a red-body candle. It is connected to the market’s uptrend and decline. It is employed in detecting future price lines and is also a dependable technical trend pattern. This star is the polar opposite of the morning star. One is bullish, while the other is bearish.
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