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Candlestick Patterns Overview
Candlestick Patterns Overview
Candlestick patterns are crucial tools in technical analysis, helping traders predict potential market movements. These patterns can signal bullish, bearish, or neutral sentiment, guiding traders in decision-making.
Bullish Candlestick Patterns:
Bullish patterns indicate a possible upward movement, often appearing at the bottom of a downtrend and signaling a reversal.
Hammer: Forms at the bottom of a downtrend, with a small body and a long lower wick, suggesting a potential reversal to the upside.
Inverted Hammer: Similar to the hammer but with a long upper wick, indicating a possible upward reversal after a downtrend.
Bullish Engulfing: A small bearish candle is followed by a larger bullish candle that fully engulfs it, signaling a reversal to the upside.
Tweezer Bottom: Composed of two or more candles with matching lows, hinting at a possible end to the downtrend.
Morning Star: A three-candle pattern starting with a long bearish candle, followed by a small or doji candle, and ending with a long bullish candle, suggesting a reversal to an uptrend.
Stars in the South: A rare pattern, signaling strong support and the potential for upward movement when appearing in a downtrend.
Neutral Candlestick Patterns:
Neutral patterns reflect indecision in the market, signaling either a continuation or a reversal, depending on subsequent price action.
Doji: Occurs when the opening and closing prices are nearly equal, forming a cross-shaped candle, which signals market indecision.
Gravestone Doji: A bearish reversal signal, characterized by a long upper wick and the open/close at the low of the day.
Dragonfly Doji: Suggests a potential bullish reversal, with a long lower wick and the open/close near the high of the day.
Bearish Candlestick Patterns:
Bearish patterns indicate possible downward movement and tend to appear at the top of an uptrend, signaling a reversal.
Hanging Man: Appears at the top of an uptrend, with a small body and a long lower wick, indicating a potential downward reversal.
Shooting Star: Forms at the peak of an uptrend, featuring a small body and a long upper wick, suggesting a weakening of the uptrend and a potential decline.
Bearish Engulfing: A small bullish candle is engulfed by a larger bearish candle, signaling a potential reversal to the downside.
Tweezer Top: Comprises two or more candles with matching highs, suggesting a possible reversal of the uptrend.
Evening Star: A three-candle pattern, starting with a bullish candle, followed by a small or doji candle, and ending with a bearish candle, indicating a reversal to the downside.
Advance Block: A series of three bullish candles, each closing higher but with diminishing momentum, signaling a potential reversal.
These candlestick patterns are essential for traders, helping them identify potential reversals, continuations, and trend changes in the market.
#binance #TRADINGVIEWđ„đ„đ„
$BTC
Candlestick patterns are crucial tools in technical analysis, helping traders predict potential market movements. These patterns can signal bullish, bearish, or neutral sentiment, guiding traders in decision-making.
Bullish Candlestick Patterns:
Bullish patterns indicate a possible upward movement, often appearing at the bottom of a downtrend and signaling a reversal.
Hammer: Forms at the bottom of a downtrend, with a small body and a long lower wick, suggesting a potential reversal to the upside.
Inverted Hammer: Similar to the hammer but with a long upper wick, indicating a possible upward reversal after a downtrend.
Bullish Engulfing: A small bearish candle is followed by a larger bullish candle that fully engulfs it, signaling a reversal to the upside.
Tweezer Bottom: Composed of two or more candles with matching lows, hinting at a possible end to the downtrend.
Morning Star: A three-candle pattern starting with a long bearish candle, followed by a small or doji candle, and ending with a long bullish candle, suggesting a reversal to an uptrend.
Stars in the South: A rare pattern, signaling strong support and the potential for upward movement when appearing in a downtrend.
Neutral Candlestick Patterns:
Neutral patterns reflect indecision in the market, signaling either a continuation or a reversal, depending on subsequent price action.
Doji: Occurs when the opening and closing prices are nearly equal, forming a cross-shaped candle, which signals market indecision.
Gravestone Doji: A bearish reversal signal, characterized by a long upper wick and the open/close at the low of the day.
Dragonfly Doji: Suggests a potential bullish reversal, with a long lower wick and the open/close near the high of the day.
Bearish Candlestick Patterns:
Bearish patterns indicate possible downward movement and tend to appear at the top of an uptrend, signaling a reversal.
Hanging Man: Appears at the top of an uptrend, with a small body and a long lower wick, indicating a potential downward reversal.
Shooting Star: Forms at the peak of an uptrend, featuring a small body and a long upper wick, suggesting a weakening of the uptrend and a potential decline.
Bearish Engulfing: A small bullish candle is engulfed by a larger bearish candle, signaling a potential reversal to the downside.
Tweezer Top: Comprises two or more candles with matching highs, suggesting a possible reversal of the uptrend.
Evening Star: A three-candle pattern, starting with a bullish candle, followed by a small or doji candle, and ending with a bearish candle, indicating a reversal to the downside.
Advance Block: A series of three bullish candles, each closing higher but with diminishing momentum, signaling a potential reversal.
These candlestick patterns are essential for traders, helping them identify potential reversals, continuations, and trend changes in the market.
#binance #TRADINGVIEWđ„đ„đ„
$BTC
â ïž Chart Requested â ïž
I have been asked to give an overview on $FLOKI and $BETA
Letâs take a look at đ¶ first
- There is a Resistance (also small fvg) sitting right 0.248-250 area from the previous bearish move
- We also have fvg somewhere near 0.065-0.085x
Price is in consolidation mode in smaller timeframe.
But from my of view, I do expect the price go up to retest its Resistance also fulfill the fvg from upside and then gradually go down heading straight to the lower Fvg (yello zone). After this fvg has been fulfilled I would think about entering a Long position
Move on to $BETA
1D chart showing a rejection from its previous high 0.115x pushing the price back.
A breakout from the trendline has been confirmed.
We have OB and Fvg right the yellow zone in the picture. So if the price wants to go higher it might have to go down a little lower to retest the OB again
đDislaimers: All my predictions based on my trading strategies, DYOR before entering the market.
đ Trading Rules:
- Always put SL ( TP might not be needed ) to reduce the risk
- Using proper money management to make sure you do not miss the ideas entries
- Trailing your SL or using Break Even
If you guys find this helpful, hit the like and follow button for more!
Thank you and Trade Safe â€ïž
#TRADINGVIEWđ„đ„đ„
I have been asked to give an overview on $FLOKI and $BETA
Letâs take a look at đ¶ first
- There is a Resistance (also small fvg) sitting right 0.248-250 area from the previous bearish move
- We also have fvg somewhere near 0.065-0.085x
Price is in consolidation mode in smaller timeframe.
But from my of view, I do expect the price go up to retest its Resistance also fulfill the fvg from upside and then gradually go down heading straight to the lower Fvg (yello zone). After this fvg has been fulfilled I would think about entering a Long position
Move on to $BETA
1D chart showing a rejection from its previous high 0.115x pushing the price back.
A breakout from the trendline has been confirmed.
We have OB and Fvg right the yellow zone in the picture. So if the price wants to go higher it might have to go down a little lower to retest the OB again
đDislaimers: All my predictions based on my trading strategies, DYOR before entering the market.
đ Trading Rules:
- Always put SL ( TP might not be needed ) to reduce the risk
- Using proper money management to make sure you do not miss the ideas entries
- Trailing your SL or using Break Even
If you guys find this helpful, hit the like and follow button for more!
Thank you and Trade Safe â€ïž
#TRADINGVIEWđ„đ„đ„
đđ âŒïžâŒïžâŒïž
$IO
- As we can see in the pictures, price has come back to fulfill the FVG on 1H chart and went up.
Price might do a little sideway and slightly go back to retest the order block again
- That was a quick reaction of buyers when the sellers push down to 4x zone
- Kind of hard to enter at the current price as we need to look at the PA more in the next few days
$WIF
- Having a look at the 1D chart I see some selling pressure on that.
In smaller timeframe in need a bit of pulling back to FVG and OB.
- I would probably look for a short entry later on this one. Not at the current price 2.4x
#TRADINGVIEWđ„đ„đ„
$IO
- As we can see in the pictures, price has come back to fulfill the FVG on 1H chart and went up.
Price might do a little sideway and slightly go back to retest the order block again
- That was a quick reaction of buyers when the sellers push down to 4x zone
- Kind of hard to enter at the current price as we need to look at the PA more in the next few days
$WIF
- Having a look at the 1D chart I see some selling pressure on that.
In smaller timeframe in need a bit of pulling back to FVG and OB.
- I would probably look for a short entry later on this one. Not at the current price 2.4x
#TRADINGVIEWđ„đ„đ„
