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Mastering these patterns can help traders anticipate market reversals and continuations. Here’s a breakdown of key candlestick patterns:
1. Morning Star
A bullish reversal pattern seen after a downtrend. It has three candles: a long bearish, a small-bodied, and a long bullish candle, signaling an upward trend.
2. Morning Doji Star
Similar to the Morning Star, but with a Doji as the middle candle, indicating indecision. It strengthens the potential for a bullish reversal.
3. Bullish Abandoned Baby
A rare bullish reversal with a bearish candle, a gap-down Doji, and a bullish candle with a gap-up, indicating a strong shift to buying pressure.
4. Three White Soldiers
A strong bullish pattern with three consecutive long-bodied bullish candles, each opening within the previous candle’s body, suggesting a sustained uptrend.
5. Three Line Strike (Bullish)
A bullish continuation pattern with three bullish candles followed by a long bearish candle that “strikes” the previous trend. The uptrend often continues despite the last candle.
6. Three Inside Up
A reversal pattern beginning with a bearish candle, followed by a bullish candle that closes within the previous one, and confirmed by a third bullish candle, signaling an upward reversal.
7. Three Outside Up
A bullish reversal pattern where a bearish candle is engulfed by a bullish candle, followed by another bullish candle, indicating a shift from downtrend to uptrend.
8. Evening Star
A bearish reversal pattern with a long bullish candle, a small-bodied candle, and a bearish candle, signaling a trend reversal to the downside.
9. Evening Doji Star
Similar to the Evening Star, but the middle candle is a Doji, indicating market indecision and a stronger bearish reversal.
10. Bearish Abandoned Baby
A bearish reversal pattern with a bullish candle, a gap-up Doji, and a bearish candle with a gap-down, suggesting a sharp move downward.
11. Three Black Soldiers
A bearish continuation pattern with three consecutive long-bodied bearish candles, signaling strong selling pressure and a continued downtrend.
12. Three Line Strike (Bearish)
A bearish continuation pattern with three bearish candles followed by a long bullish candle. Despite the bullish candle, the downtrend usually resumes.
13. Three Inside Down
A bearish reversal pattern with an initial bullish candle, followed by a bearish candle within the previous one, confirmed by a third bearish candle, indicating a downtrend.
14. Three Outside Down
A bearish reversal pattern with a bullish candle engulfed by a bearish candle, followed by another bearish candle, signaling a shift from uptrend to downtrend.
Understanding these patterns can improve your analysis and timing in trades, helping you make informed decisions. If this post was helpful, please like and follow for more trading insights!
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