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Full Candlestick Patterns Guide

Candlestick charts are a tool for visualizing price movements in trading, showing Open, High, Low, and Close prices. Various patterns, such as Doji, Hammer, and Engulfing, provide insights into market sentiment and potential trend changes. Successful trading involves using these patterns in conjunction with support/resistance zones, confirming with indicators, and applying risk management strategies.

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61 views11 pages

Full Candlestick Patterns Guide

Candlestick charts are a tool for visualizing price movements in trading, showing Open, High, Low, and Close prices. Various patterns, such as Doji, Hammer, and Engulfing, provide insights into market sentiment and potential trend changes. Successful trading involves using these patterns in conjunction with support/resistance zones, confirming with indicators, and applying risk management strategies.

Uploaded by

xagoh45899
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Introduction to Candlestick Charts

Candlestick charts help visualize price movements in trading.


Each candle shows Open, High, Low, and Close prices.
Candlestick patterns give insights into market sentiment and possible trend changes.
Doji

Doji Candle
Hammer
Hammer
Inverted Hammer
Inverted Hammer
Bullish Engulfing
Bullish Engulfing

Bearish Candle
Bearish Engulfing
Bearish Engulfing
Bullish Candle
Shooting Star
Shooting Star
Morning Star

Bullish Candle

Bearish Candle

Star
Evening Star
Star
Bullish Candle
Bearish Candle
How to Trade Using These Patterns
How to trade with candlestick patterns:
- Use patterns near support/resistance zones.
- Confirm with volume or indicators like RSI/MA.
- Avoid relying on one candle alone. Consider the overall trend.
- Always apply risk management (stop-loss, position sizing).
Summary and Pro Tips
Tips for Success:
- Learn and recognize patterns by heart.
- Practice on historical charts.
- Combine with technical indicators for confirmation.
- Avoid emotional trading. Stick to your plan.
- Backtest and refine strategies before live trading.

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