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Let's talk about Candlestick Chart PatternsThe candlestick chart patterns are used by traders to set up their trades, and predicting the future direction of the price movements. There are many candlestick chart patterns. I will be discussing a few of those. ✅ Morning Star is formed after a downtrend indicating a bullish reversal. Generally made of 3 candlesticks, first being a bearish candle, second a Doji, and third being a bullish candle. The first candle shows the continuation of the downtrend, the second being a Doji shows indecision in the market and the third bullish candle shows that bulls are back in action. ✅ Bullish Hammer is a single candlestick pattern, which is formed at the end of the downtrend and shows bullish reversal. The real body of this candle is small with a long lower wick which should be more than twice the real body. This candle is formed when the seller pushes the price downwards but at the same time buyers arrive and push the prices up. ✅ Bullish Engulfing is formed after a downtrend, indicating a bullish reversal. It is formed when a bearish candle is fully engulfed by a bullish candle which shows that the bulls are back in the market. ✅ Three White Soldiers is a multiple candlestick pattern that is formed after a downtrend indicating a bullish reversal. It is formed when three consecutive bullish candles appear one after the other. These three candles show a strong bullish trend. ✅ Hanging Man is generally formed at the end of an uptrend and signals bearish reversal. The real body of this candle is small and is located at the top with a lower shadow which should be more than twice the real body. This candlestick pattern has no or little upper shadow. ✅ Dark Cloud Cover is formed by two candles, the first candle being a bullish candle which indicates the continuation of the uptrend. The second candle is a bearish candle that opens the gap up but closes more than 50% of the real body of the previous candle which shows that the bears are back in the market and a bearish reversal is going to take place. ✅ Bearish Engulfing is formed by two candles, after an uptrend indicating a bearish reversal. It is formed by two candles, the second candlestick engulfing the first candlestick. The first candle being a bullish candle indicates the continuation of the uptrend. The second candlestick chart is a long bearish candle that completely engulfs the first candle and shows that the bears are back in the market. ✅ Evening Star is made of 3 candlesticks, first being a bullish candle, second a Doji, and third being a bearish candle. The first candle shows the continuation of the uptrend, the second candle being a doji indicates indecision in the market, and the third bearish candle shows that the bears are back in the market and reversal is going to take place. Thanks for reading and hope you like it. Please comment and let us know your thoughts on it. Happy Trading
Education
by Tuned_Official
Greatest Percent GAINER OVERBOUGHTAfter two great news, BLIN managed to run up to 10.41, making it an overbought stock. Jul-02-21 09:24AM Bridgeline Receives More than $2.5M in Warrant Exercises GlobeNewswire +56.00% Jul-01-21 09:00AM Bridgeline Partners Win More than 20 Site Search Licenses in its Third Quarter GlobeNewswire +33.72% This two news made possible this situation in which stocks are starting to be sold by demand. Looking at the chart, we can see how all highs where made with great volume, which is good but the corresponding candle didn't responded the same way, most of the time it closed in its third, showing how demand was getting out of the stock while it kept going up, We had another sign of weakness in the upward trend when the triangle that formed duting the spring in the supposed wyckoff's accumulation phase, didn't break with strength even though, prices kept mooving up but very timidly, until we had another spike, this time a hammer candlestick (a warning about a change) with the second greatest volume of the timeframe;; this time, the remaining demand got out of the stock, that maintained some momentum that made it break the resistance formed by great volume with no volume ( another sign of weakness) and the icing on the cake comes when we had a doji, reasuring the weakness and how little time the bullish trend has left. (We also have the three SMAs overextended, and prices very far from them). Surely the news made some great profits to the insiders, but the ones who came late are now out of the trend and should stay out until we have a few clear signs of strength. As we expect the stock price to come back, at least, to the lateral range limited by the blue support and resistance. I Hope You Have A Great Day!!
NASDAQ:BLINShort
by Fernando_132
Area of UndecisionFor period of next 1 or 2 days, the Bitcoin price price will be sideways. Daily trend shows no trade zone. Recent pump volume subsides. Either, we continue to break 35k, to play the W pattern towards 38k. or, We continue downtrend towards 32k. we can also see these area are confluence with Fibonacci level of recent high and low. If either of this pattern play out, this will be confirmation of further down or up trend. Just hold our bullets 1st. Don't waste on sideways market.
by cryptokulai
doji candle The first Doji candle Any candle whose open and close points coincide is called a Doji . The most famous and important Doji pattern is the tall Doji. This pattern is a sign of indecision in the market. Buyers and sellers are skeptical and can not move the market in a certain direction. Contradictory news entered into it. But eventually it returned to its original point, and all the contradictory news completely nullified each other. Therefore, the reliable information of the shareholders has not changed significantly during the day. Each of the candle patterns tries to predict the next market movements as much as possible. The tall Doji model predicts that the market will probably be in place for the next few candlesticks. Markets that do not have a specific direction of movement are called volatile markets. Despite having the same name, they have different types of Dodge patterns, but their message is completely different. If the Doji tombstone pattern appears on the ceilings, it means a downward signal indicating a resistance level. While the Dodge Dragonfly pattern appears on the floor, it will be a hammer-like upward signal, indicating an increase in the power of buyers compared to sellers. The Dodge cross pattern is usually not meant alone and is classified next to the previous candelabras in the group of multi-candle patterns, which we will discuss below. In the image below, you can see a collection of Dodge patterns formed on the global gold price chart. These patterns were created due to the uncertainty of the market following the release of a positive news in the market when traders had doubts about the accuracy of the news and expressed this doubt in the form of various types of Doji pattern.
NASDAQ:HNST
by dr_heidary
NZDUSD Strong Reactions To Support & Resistance LevelsLevel A: 0.71087 - 0.71499 Level B: 0.72118 These were determined by 4 or more "touch and retrace" points on the 4 hour chart. Three Major reactions were observed with price action around these areas, and are labelled on the chart. Scenario 1: When a trend drives the price toward Level A the trend weakens, and we see more signs of uncertainty as to where the price is moving more often a "doji". Trend analysis indicators such as the Average Directional Index respond to this late. A drop down to lower timeframes shows more candlestick and chart patterns such as hammers, and double tops/bottoms. Scenario 2: Downtrend moving sideways before trend continuation/reverse: When the bounce provided by the levels is not strong enough to reverse a trend, and the markets begin to move sideways, signs of uncertainty again show, with longer wicks as the bulls and bears battle for control, again in lower timeframes. More potential trades lie in these areas. Scenario 3: When the price moves sideways in Level A: Whilst within the level, there are a lot of candlestick patterns with both bullish and bearish indications, but most provide no actual insight to the markets' direction. After the price breaks out of the level and moves sideways on it however, Potential trades are revealed yet again. As of the time of writing, the price is approaching Level B, and there is some room for trades to test this out. Comments, constructive criticism and more reactions are always welcome, so let me know what you think about these potential trades!
by Deidara8086
2
ROBLOX 4H Doji + Triangle A doji appeared in the last 4 hours of trading of Roblox. Typically a doji reflects indecision within the market where buyers and sellers cancel each other out. When it happens at the top of a move it can signal a reversal. However, 4 hours isn't much to go on (I'd feel better on a daily chart) and these things appear a lot and often lead to nothing. So check for confirmation in the next candles. There is also a triangle forming and today was a new high completing the top line. Option 1 is a move higher once the triangle is broken, it could be after a slight move down (due to that doji) which presents a buying opportunity if the triangle holds. Not a super helpful chart, I probably should have just written "watch out for that doji" and left it there :)
NYSE:RBLX
by JBlack99
japanese candlesstick pattern (doji)The Doji is a candlestick where the opening and closing prices are the same (or almost the same). It can take many forms; as shown here; depending of what the trading activity was in that period. The Doji candlestick indicates that neither sellers or buyers have gained control, and that price has ended where it began. It is a sign of indecision in the market. Let me show you an example below : In the chart above, you can see different types of the Doji candlestick pattern. This candlestick gives us a clear image about what happened in the market during the specific time period. In this hourly chart above, the formation of the Doji means that buyers and sellers are equal, no one is in control of the market during one hour, which is the time of the Doji candlestick formation. You can't use the Doji alone to make your trading decision, my goal in this first lesson is to help you read charts by being able to identify and understand candlestick patterns formation, so when you see the Doji candlestick pattern for example, you know that during that period of time the market was in an indecision phase and sellers and buyers are equal. This is the most important information that the Doji gives us when it forms in the market.
OANDA:XAUUSDEducation
by tradeplanprofit