🚨 10 Candlestick Chart Patterns to Help You Avoid Losses 🚨
1. Bullish Engulfing Candle: This pattern occurs when a large green or white candle fully engulfs the previous day's red or black candlestick. It signals the potential start of an upswing, indicating that new buyers have entered the market, driving prices higher and reversing the trend.
2. Bearish Engulfing Candle: A bearish engulfing pattern indicates impending lower prices. It consists of a smaller bullish candle followed by a larger bearish candle that engulfs it, signaling a shift in market sentiment towards selling.
3. Dark Cloud Cover: This bearish candlestick pattern appears after a price increase and shows a momentum shift to the downside. It consists of a bearish candle that opens above the previous bullish candle but closes below its midpoint.
4. Cloud Break: Similar to the Dark Cloud Cover, this pattern indicates a bearish reversal in a bullish trend. It consists of a bullish candle followed by a bearish candle that covers more than half of the previous day's bullish candle, resembling a "dark cloud."
5. Tweezer Top: This pattern forms during an uptrend when prices reach new highs but fail to advance further. It consists of two candles, with the second candle signaling a short-term bearish reversal and a potential market top.
6. Bullish Counterattack: This pattern indicates a potential trend reversal in the forex market. It features a bearish candle followed by a bullish candle that closes near the previous candle's open, suggesting a shift in sentiment and an opportunity to enter long positions or exit shorts with minimal risk.
7. Bullish Harami: A bullish harami suggests that a bearish trend may be nearing its end. It consists of a small bearish candle contained within the body of the preceding bullish candle, indicating a potential entry point for long positions.
8. Bearish Harami: This pattern signals a reversal in an upward price movement. It features a small bullish candle that is entirely contained within the preceding bearish candles, indicating that the upward momentum may be weakening.
9. Two Flying Crows: This three-candle pattern signals a potential slowdown in momentum during an uptrend. It starts with a large bullish candle, followed by a gap up into a bearish candle, and concludes with a larger bearish candle that engulfs the previous ones.
10. Bearish Counterattack: This pattern forms when the market is in an uptrend and the next candle opens with a gap up but closes near the previous candle's close. It indicates a potential trend reversal and a shift towards bearish sentiment.
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