Gravestone Doji Japanese name: tohbo (or tohba) Forecast: lack of determination Trend prior to the pattern: N/A Opposite candlestick: Dragonfly Doji Construction: - opening, closing and minimum prices are the same or similar - long upper shadow (wick) - appears on as a long line Note: all doji's can appear on any time frames- higher the better for any...
The railway tracks pattern Forex trading strategy is another price action trading strategy that is based on analyzing the lengths of two candlesticks of similar lengths and one of candlesticks must be bullish and the other one is bearish. When you see them together they look like railways tracks and thus name… There are two types of railway track pattern: bullish...
Dragonfly Doji Japanese name: taketombo Forecast: lack of determination Trend prior to the pattern: N/A Opposite candlestick: Gravestone Doji Construction: - opening, closing and high prices are the same or similar - long lower shadow (wick) - appears as a long line
Long-Legged Doji Japanese name: juji, yose Forecast: lack of determination Trend prior to the pattern: N/A Opposite candlestick: none Construction: - a doji candle - opening and closing prices are the same or similar - upper and lower shadow are very long - body is located in the middle of the candle or nearly mid-range - appears as a long line
Inverted Hammer Japanese Candlestick The Inverted Hammer candlestick is a bullish reversal candlestick pattern. It occurs at the bottom of a Bitcoin downward trend. Inverted hammer candlestick occurs at the bottom of a downtrend and indicates the possibility of reversal of the downward Bitcoin price trend. Technical Analysis of Inverted Hammer Candlestick A buy...
Please note : I am self-taught and the information below is just my understanding/thoughts on the topic. I am open to debate in the comments if I have either misjudged something or have missed something altogether. Pinbars I wanted to publish something abit more educational regarding reading of candlesticks.The ‘pinbar’ is a crowd favourite and you don’t have to...
Double Doji Strategy should be done on hourly, 4 hour or Daily, related to a lot more price action involved with each candlestick. Then break will be sudden and quick, when price action does happen to buy or sell side of doji's. These double dojis do not happen that often, but when they do can be highly profitable set up and high win rate %. Chart is GbpAud is...
Welcome : Today I will talk about one of the very important Japanese candles, which is (selling off) one of the most important candles that a trader should know and be careful : This candle comes at the end of the bearish trend to indicate its reversal (this candle indicates that the sellers are about to end and the price may rise). This candle is different, of...
Work best with daily engulfing bar, the MAs must be crossed in the direction of the trade.
TUTORIAL Today's candle was a very bullish candle. Looking at the anatomy of today's candle notice Close is above its Open indicating a bullish candle. The long lower Shadow of the Candle indicates a rejection of lower prices as buyers overcome the sellers. The candle also has a short upper shadow indicating little rejection of higher prices. Lastly, the...
TUTORIAL Today's candle (4/27/2020) formed a Doji. A Doji is a "Neutral Candle" indicating trader indecision. A "Close" above the "High" of the Doji indicates the price is ready to move higher and a "Close" below the "Low" of the Doji indicates the price is ready to move lower. TRADING Go "Long" on a Close above the High of the Doji or go "Short" on a Close...
TUTORIAL Friday's candle formed a Spinning Top. A Spinning Top is formed by a small real body with supper and lower shadows less than the length of the real body. By itself, a Spinning Top indicates a drifting market. However, this spinning top's lower shadow's low price was equal to the low price of the previous candle forming a Bullish Tweezer. A Bullish...
Today's candle was a Neutral candle. A Neutral candle is a candle that closes near the middle of its range. The trading psychology here is the market opened near its high and was able to sell-off. Then the bulls entered the market and pushed the market back upward but were not able to move the market back to the high of the session. It was like a tug-of-war...
These candles are a representative example of what a bullish rejection candle looks like. I have also added rules to identify a bullish rejection candle. These rules can vary somewhat but the more the rules are relaxed the less the candle acts to reject lower prices.
These candles are a representative example of what a bearish rejection candle looks like. I have also added rules to identify a bearish rejection candle. These rules can vary somewhat but the more the rules are relaxed the less the candle acts to reject higher prices.
The 1-hour chart has not yet closed a candlestick pattern indicating a bottom. We should continue monitoring the chart and look for signs of a bottoming pattern. Once a bottoming pattern forms on the 1-hour chart, we can then consider looking for a counter-trend trading signal.
Bearish candlestick pattern if price gets trapped in range I expect a sell to the floor it made at 1.22 & 1.2177 I don't know yet about it breaking that 20.something zone for it was it's bottom so we need to break the second touch that brought and impulse to continue downwards
Takuri: shadow down - candles confirmed reversal The main thing that everyone is interested in is, of course, what candles can confirm a market reversal. One of the main candles immediately pointed out by the Japanese is the Takuri. The Americans called it a pin bar, where a pin is the shadow of a candle, which is longer than the body. Another name is...