Bullish candlestick patterns indicate potential upward price movement and are often used by traders to predict market reversals or continuations. Here are some common bullish candle names and patterns:
Single Candlestick Patterns
1. Hammer
A small body at the top with a long lower wick. Appears after a downtrend, signaling a reversal.
2. Inverted Hammer
Similar to a hammer but with a long upper wick. Indicates a potential reversal after a downtrend.
3. Bullish Marubozu
A candle with no wicks, where the open is the low and the close is the high, showing strong buying pressure.
4. Dragonfly Doji
A doji with a long lower wick and little to no upper wick. Indicates a potential reversal after a downtrend.
Multi-Candlestick Patterns
1. Bullish Engulfing
A two-candle pattern where a small bearish candle is followed by a larger bullish candle that completely engulfs it.
2. Piercing Pattern
A two-candle pattern where a bullish candle closes more than halfway into the body of the previous bearish candle.
3. Morning Star
A three-candle pattern consisting of a bearish candle, a small indecisive candle (doji/spinning top), and a bullish candle.
4. Three White Soldiers
Three consecutive bullish candles with small wicks, indicating strong buying momentum.
5. Tweezer Bottom
Two candles with similar lows, often signaling a reversal.
Less Common Patterns
1. Rising Three Methods
A bullish continuation pattern where a strong bullish candle is followed by a few smaller bearish candles, then another bullish candle.
2. Harami Bullish
A small bullish candle contained within the body of the previous larger bearish candle.
These patterns are more reliable when confirmed by other technical indicators or occurring at significant support levels.
