🚀🚀🍀🍀Each of the candlestick patterns shown in the image🚀🚀🍀🍀


1. Hanging Man

• Description: A bearish reversal pattern that appears at the top of an uptrend. It has a small body with a long lower wick, indicating that there was selling pressure but buyers pushed the price back up.

• Signal: When it forms after an uptrend, it suggests that the bulls are losing control, and a potential reversal to the downside may occur.

• Profit Strategy: Traders may enter a short position after confirmation of a downtrend following the hanging man. Profit targets can be set at support levels or using a risk/reward ratio.

2. Hammer

• Description: A bullish reversal pattern that occurs at the bottom of a downtrend. It has a small body with a long lower wick, showing that sellers pushed prices down, but buyers regained control by the close.

• Signal: It indicates a potential upward reversal, especially when followed by a bullish confirmation candle.

• Profit Strategy: Enter a long position when the next candle confirms the reversal, with a stop loss below the hammer’s wick. Take profit at resistance levels.

3. Shooting Star

• Description: A bearish reversal pattern that occurs at the top of an uptrend. It has a small body with a long upper wick, showing that buyers pushed the price higher but were overpowered by sellers.

• Signal: Indicates a potential reversal to the downside.

• Profit Strategy: Consider a short position after confirmation of a downward move, with profit targets at support levels.

4. Inverted Hammer

• Description: A bullish reversal pattern found at the bottom of a downtrend. It has a small body with a long upper wick, showing that buyers attempted to push the price up but faced resistance.

• Signal: It signals potential bullish reversal when confirmed by an upward price movement.

• Profit Strategy: Enter a long position after confirmation, with stop losses set below the inverted hammer’s low and profit targets set at nearby resistance levels.

5. Gravestone Doji

• Description: A bearish reversal pattern with a long upper wick and little to no body, indicating that buyers tried to push the price higher but were rejected by sellers.

• Signal: Found at the top of an uptrend, it suggests that the market may reverse downward.

• Profit Strategy: Enter a short position after a bearish confirmation, with stop loss above the doji’s wick. Take profit at key support areas.

6. Dragonfly Doji

• Description: A bullish reversal pattern with a long lower wick and little to no body, indicating strong rejection of lower prices.

• Signal: Typically found at the bottom of a downtrend, suggesting potential upward reversal.

• Profit Strategy: Consider a long position once the next candle confirms the reversal, with profit targets at resistance zones.

7. Long-Legged Doji

• Description: An indecision pattern where prices fluctuate greatly, but the open and close are almost the same.

• Signal: It can indicate a potential reversal or continuation, depending on confirmation from subsequent candles.

• Profit Strategy: Wait for confirmation in either direction (bullish or bearish) before entering a trade. Profit and stop-loss placement should be based on subsequent price action.

8. Rickshaw Man Doji

• Description: Similar to the long-legged doji, it indicates market indecision but shows equal strength between buyers and sellers.

• Signal: The direction of the next few candles will determine whether a reversal or continuation is likely.

• Profit Strategy: Wait for the confirmation candle. If it’s bullish, enter a long trade; if bearish, enter a short. Set take profit according to resistance/support levels.

9. Spinning Top Doji

• Description: A small-bodied candle with long wicks on both sides, indicating indecision in the market.

• Signal: Can appear during both uptrends and downtrends. The market could reverse or continue, depending on confirmation.

• Profit Strategy: Wait for confirmation before entering a trade. If the market moves in the direction of the trend, use that as a signal to continue. For reversals, set appropriate stop losses and take profits.

10. Shaven-Head

• Description: A candlestick without wicks, indicating strong momentum. A bullish shaven-head has no lower shadow, while a bearish shaven-head has no upper shadow.

• Signal: It suggests strong bullish or bearish momentum, depending on the color.

• Profit Strategy: Follow the momentum in the direction of the candle. For bullish candles, go long, and for bearish candles, go short. Stop losses should be tight as these candles often indicate strong moves.

11. Marubozu

• Description: A strong bullish or bearish candlestick with no wicks, representing sustained momentum in one direction.

• Signal: Bullish marubozu suggests strong buying pressure, while bearish marubozu indicates strong selling pressure.

• Profit Strategy: Enter a trade in the direction of the Marubozu. For a bullish Marubozu, enter long positions with stop loss below the candle. For bearish, enter short with stop loss above the candle.

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