Trading can be overwhelming for beginners, but following simple candlestick patterns makes it easier to grasp market movements. These patterns can signal potential reversals or continuations, helping traders enter and exit positions confidently. By consistently applying these strategies on Binance, you could aim for daily profits of $50 or more. Here's how to use these patterns effectively:

1. Hammer (Bullish Reversal): This single candlestick pattern signals a potential bullish reversal after a downtrend. Look for a candle with a small body and a long lower wick, indicating that buyers are stepping in. Enter a trade once the price breaks above the high of the hammer, with your stop loss placed below the wick.

2. Inverted Hammer (Bullish Reversal): Similar to the hammer, the inverted hammer suggests a reversal, but its long wick is above the body. This pattern often appears after a downtrend, signaling a potential bullish move. Enter above the high with a stop loss below the low of the candle.

3. Dragonfly Doji (Bullish Reversal): A doji with no upper shadow and a long lower wick indicates buyer strength. This pattern typically forms at the bottom of a downtrend, signaling a potential reversal. Enter above the high with a stop loss below the low.

4. Bullish Engulfing (Bullish Reversal): This two-candle pattern occurs when a small bearish candle is followed by a larger bullish one, fully engulfing the previous candle. It suggests the start of an upward movement. Enter after the close of the bullish candle, with your stop loss at the low of the bearish candle.

5. Shooting Star (Bearish Reversal): This pattern indicates a bearish reversal after an uptrend. A small body with a long upper wick shows rejection of higher prices. Enter below the low of the shooting star, with a stop loss above its high.

6. Bearish Engulfing (Bearish Reversal): The bearish engulfing pattern consists of a smaller bullish candle followed by a larger bearish one. This indicates a reversal in the upward trend. Enter below the low of the engulfing candle, with your stop loss above the high of the bullish candle.

7. Three White Soldiers (Bullish Continuation): This triple-candlestick pattern forms after a downtrend, with three consecutive bullish candles, each closing higher than the last. Enter after the third candle closes, with your stop loss below the low of the first candle.

8. Morning Star (Bullish Reversal): This three-candle pattern signals the end of a downtrend. It starts with a bearish candle, followed by a small candle (showing indecision), and ends with a large bullish candle. Enter above the high of the bullish candle, with your stop loss below the low of the small candle.

9. Evening Star (Bearish Reversal): The opposite of the morning star, this pattern signals the end of an uptrend. It starts with a bullish candle, followed by indecision, and concludes with a large bearish candle. Enter below the low of the bearish candle, with a stop loss above the high of the small candle.

10. Bearish Harami (Bearish Reversal): A small bearish candle forms within the body of a larger bullish one, indicating a potential reversal. Enter below the low of the bearish candle, with your stop loss above the high of the bullish candle.

By recognizing and applying these simple candlestick patterns on Binance, traders can gain a better understanding of market trends. Consistency is key, and by following these patterns, you can steadily improve your daily profits, potentially earning $50 a day.