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This image shows different candlestick patterns commonly used in technical analysis for trading. Here is an explanation of each pattern:
đđTop Row:
Hanging Man:
Occurs after an uptrend.
Indicates potential reversal to the downside.
The candle has a small body with a long lower shadow, signaling selling pressure.
đHammer:
Appears after a downtrend.
Indicates a possible reversal to the upside.
Small body with a long lower shadow suggests a rejection of lower prices.
đShooting Star:
Appears at the top of an uptrend.
Signals a potential bearish reversal.
Small body with a long upper shadow, indicating that buyers were overpowered by sellers.
đInverted Hammer:
Occurs after a downtrend.
May indicate a reversal to the upside.
Small body with a long upper shadow shows an attempt to push prices higher.
Middle Row:
đGravestone Doji:
Resembles a gravestone; no body or very small body.
Indicates a bearish reversal after an uptrend.
Open and close occur at the same level, with a long upper shadow.
đDragonfly Doji:
Appears like a "T".
Signifies a potential reversal, depending on its position in a trend.
The open and close are at the top with a long lower shadow.
đLong-Legged Doji:
Both upper and lower shadows are long, with the open and close near the middle.
Shows indecision in the market and can signal a reversal.
đRickshaw Man Doji:
Similar to the long-legged doji but more exaggerated.
Reflects extreme indecision, making it a possible reversal indicator.
Bottom Row:
đSpinning Top Doji:
Small body with upper and lower shadows.
Reflects indecision, with the trend possibly continuing or reversing.
đShaven-head:
A candlestick with no shadows (or very small ones).
If green, it signals strong buying. If red, it indicates strong selling pressure.
đMarubozu:
No shadows; just a solid body.
Green Marubozu signals strong bullish sentiment, while red Marubozu indicates strong bearish sentiment.
Each of these candlestick patterns helps traders predict potential trend reversals or continuations in financial markets.#BinanceLaunchpoolHMSTR #EIGENonBinance #BTCPredictedNewATH #Write2Earn! $WOO $BTC $SUI