Candlesticks patterns to become profitable trader

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1. JAPANESE CANDLESTICKS
PATTERNS
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2. Japanese candlesticks are
formed using the open, high,
low, and close of the chosen
time period. They are used to
describe the price action
during the given time frame..

3. CANDLESTICK ANATOMY
Long bodies indicate strong
buying or selling. The longer the
body is, the more intense the
buying or selling pressure. This
means that either buyers or
sellers were stronger and took
control.
1.LONG VS. SHORT
Short bodies imply very little
buying or selling activity.

4. CANDLESTICK ANATOMY
If a candlestick has a long upper
shadow and short lower shadow, this
indicate sellers came in and drove
prices back DOWN to end the session
back near its open price. If a
candlestick has a long lower shadow
and short upper shadow, it indicates
buyers came in and drove prices back
UP to end the session back near its
open price
2.MYSTERIOUS SHADOWS

5. SPINNING TOPS
Japanese candlesticks with a long
upper shadow, long lower
shadow, and small real bodies are
called spinning tops. The color of
the real body is not very
important. The Spinning Top
pattern indicates the indecision
between the buyers and sellers

6. MARUBOZU
Marubozu means there are no
shadows from the bodies. The
word “marubozu ” translates to
“bald head” or “shaved head” in
Japanese. So a Marubozu
candlestick is a bald candle or
shaved candle means it has no
shadow or wick.

7. DOJI
Doji candlesticks have the same open and
close price or at least their bodies are
extremely short. A Doji should have a very
small body that appears as a thin line. Doji
candles suggest indecision or a struggle
for turf positioning between buyers and
sellers. There are FOUR special types of
Doji candlesticks. The length of the upper
and lower shadows can vary and the
resulting forex candlestick looks like a
cross, inverted cross, or plus sign. The
word “Doji” refers to both the singular and
plural form..

8. SINGLE CANDLESTICK PATTERN
The Hammer and Hanging Man look
exactly alike but have totally different
meanings depending on past price
action. Both have small bodies (black or
white), long lower shadows, and short
or absent upper shadows
HAMMER AND HANGING MAN

9. HAMMER
The Hammer is a bullish
reversal pattern that forms
during a downtrend. It is named
because the market is
hammering out a bottom. When
the price is falling, hammers
signal that the bottom is near
and the price will start rising
again.

10. HANGING MAN
The Hanging Man is a
bearish reversal pattern that
can also mark a top or
strong resistance level.
When the price is rising, the
formation of a Hanging Man
indicates that sellers are
beginning to outnumber
buyers.

11. The Inverted Hammer and Shooting Star also look
identical. The only difference between them is
whether you’re in a downtrend or uptrend. An
Inverted Hammer is a bullish reversal candlestick.
A Shooting Star is a bearish reversal candlestick.
Both candlesticks have petite little bodies, long
upper shadows, and small or absent lower
shadows
INVERTED HAMMER AND SHOOTING STAR

12. INVERTED HAMMER
The Inverted Hammer is a
bullish reversal pattern which
occurs when the price has
been falling suggests the
possibility of a reversal. Its
long upper shadow shows
that buyers tried to bid the
price higher.

13. SHOOTING STAR
The Shooting Star is a bearish
reversal pattern that looks
identical to the inverted
hammer but occurs when the
price has been rising. It's
shape indicates that the price
opened at its low, rallied, but
pulled back to the bottom.

14. DUAL CANDLESTICK PATTERN
The Bullish Engulfing pattern is a two
candlestick reversal pattern that signals a
strong up move may occur.It happens
when a bearish candle is immediately
followed by a larger bullish candle. This
second candle “engulfs” the bearish
candle. This means buyers are flexing
their muscles and that there could be a
strong up move after a recent downtrend
or a period of consolidation.
BULLISH ENGULFING
ENGULFING CANDLES

15. BEARISH ENGULFING
The Bearish Engulfing pattern is
the opposite of the bullish
pattern. This type of candlestick
pattern occurs when the bullish
candle is immediately followed
by a bearish candle that
completely “engulfs” it. This
means that sellers overpowered
the buyers and that a strong
move down could happen

16. TWEEZER PATTERNS
Tweezer patterns are two candlestick reversal
patterns. This type of candlestick pattern is
usually spotted after an extended uptrend or
downtrend, indicating that a reversal will soon
occur. There are two types of Tweezer
patterns:
The Tweezer Bottom
The Tweezer Top

17. TWEEZER TOP TWEEZER BOTTOM

18. The first candlestick is the same as the overall
trend. If the price is moving up, then the first
candle should be bullish.
The second candlestick is opposite the overall
trend. If the price is moving up, then the second
candle should be bearish.The shadows of the
candlesticks should be of equal (or near-equal)
length.
Tweezer Tops should have the same highs, while
Tweezer Bottoms should have the same lows.

19. TRIPLE CANDLESTICK PATTERN
The Morning Star and the Evening Star are triple
candlestick patterns that you can usually find at the end of
a trend. The morning star and evening star are reversal
patterns
The first candlestick is in the direction of the trend.
The second candlestick can be bullish or bearish and has a
small body, denoting indecision in the market.
The third candlestick is a candlestick in the direction of the
reversal, closing preferably beyond the half way mark of
the first candlestick.
EVENING AND MORNING STAR

20. MORNING STAR
A morning star is a visual
pattern consisting of three
candlesticks that is interpreted
as a bullish sign . A morning star
forms following a downward
trend and it indicates the start
of an upward climb. It is a sign of
a reversal in the previous price
trend.

21. EVENING STAR
An evening star is a bearish
candlestick pattern consisting
of three candles: a large white
candlestick, a small-bodied
candle, and a red candle.
Evening star patterns are
associated with the top of a
price uptrend, signifying that
the uptrend is nearing its end.

22. THREE WHITE SOLDIERS
AND BLACK CROWS
Three white soldiers and Three black crows are
reversal patterns. It consist of three consecutive
bullish candlesticks after a downtrend that have
approximately the same size and small or no wicks.
The Three black crows consist of three consecutive
bearish candlesticks after an uptrend that have
approximately the same size and have small or no
wicks.

23. THREE WHITE SOLDIERS
Three white soldiers after a downtrend,
there are three consecutive bullish
candlesticks. The bodies of the second
and the third candlesticks should be of
approximately the same size – if the
third candlestick is visibly smaller than
the preceding two candles, this means
that the buyers are not completely in
control and may indicate weakness
among the buyers. The candles have
small or no upper wicks.

24. THREE BLACK CROWS
Three black crows consists of three
consecutive bearish candlesticks. The
bodies of the second and the third
candlestick should be approximately
the same size – if the third candlestick
is visibly smaller than the preceding
two candles, this means that the
sellers are not completely in control
and may indicate weakness among the
sellers. They have small or no lower
wicks..

25. CANDLESITCK CHEAT SHEET
NAME OF CANDLE DIRECTION DAIGRAM
SPINNING TOPS
DOJI
NEUTRAL
NEUTRAL

26. CANDLESITCK CHEAT SHEET
NAME OF CANDLE DIRECTION DAIGRAM
WHITE
MARUBOZU
BLACK
MARUBOZU
BULLISH
BEARISH

27. CANDLESITCK CHEAT SHEET
NAME OF CANDLE DIRECTION DAIGRAM
HAMMER
HANGING
MAN
BULLISH
BEARISH

28. CANDLESITCK CHEAT SHEET
NAME OF CANDLE DIRECTION DAIGRAM
INVERETED
HAMMER
SHOOTING
STAR
BULLISH
BEARISH

29. CANDLESITCK CHEAT SHEET
NAME OF CANDLE DIRECTION DAIGRAM
BULLISH
ENGULFING
BEARISH
ENGULFING
BULLISH
BEARISH

30. CANDLESITCK CHEAT SHEET
NAME OF CANDLE DIRECTION DAIGRAM
TWEEZER TOP
TWEEZER
BOTTOM BULLISH
BEARISH

31. CANDLESITCK CHEAT SHEET
NAME OF CANDLE DIRECTION DAIGRAM
MORNING STAR
EVENING STAR BEARISH
BULLISH

32. CANDLESITCK CHEAT SHEET
NAME OF CANDLE DIRECTION DAIGRAM
THREE WHITE
SOLDIERS
THREE BLACK
CROWS
BEARISH
BULLISH

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