Japanese Candlestick Patterns in Crypto Trading:
** 1. Hammer:**
Resembles a hammer, with a small body and long wick below.
Indicates strong buying pressure after a price drop.
Symbol: Hammer
** 2. Shooting Star:**
Inverted hammer, with a small body and long wick above.
Indicates strong selling pressure after a price rise.
Symbol: Shooting Star
** 3. Bullish Engulfing:**
Large green candle that engulfs a small red candle.
Indicates a strong bullish reversal.
Symbol: Bullish Engulfing
** 4. Bearish Engulfing:**
Large red candle that engulfs a small green candle.
Indicates a strong bearish reversal.
Symbol: Bearish Engulfing
** 5. Doji:**
Candle with a very small body and long wicks on both sides.
Indicates indecision in the market and unclear direction.
Symbol: Doji
** 6. Marubozu:**
Candle with no wick, indicating complete dominance by sellers (if red) or buyers (if green).
Symbol: Marubozu
** 7. Hanging Man:**
Small bullish candle with a long wick below.
Indicates possible selling pressure after a price rise.
Symbol: Hanging Man
** 8. Inverted Hammer:**
Small bearish candle with a long wick above.
Indicates possible buying pressure after a price drop.
Symbol: Inverted Hammer
⚠️ Remember:
Don't rely on a single pattern to make trading decisions.
Use other technical analysis indicators for confirmation.
Practice on a demo account before trading with real money.
