Candlestick Patterns
Each candlestick pattern tells a story about the price action during a specific period of time, with candlestick patterns coming in many different shapes and sizes, and each pattern having its own unique characteristics and strategies.
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Pattern Descriptions
Bullish Hammer:
A bullish hammer has a small real body at the top of the candlestick and a long lower wick. This pattern indicates that buyers are gaining strength and there is potential for a bullish reversal.
Bearish Hammer:
A bearish hammer has a small real body at the bottom of the candlestick and a long upper wick. This pattern indicates that sellers are gaining strength and there is potential for a bearish reversal.
Hanging Man:
A hanging man looks similar to a bearish hammer, but occurs after a bullish trend. It has a small real body at the top of the candlestick and a long lower wick, indicating potential weakness in the market.
Inverted Hammer:
An inverted hammer has a small real body at the bottom of the candlestick and a long upper wick. This pattern indicates that buyers are gaining strength and there is potential for a bullish reversal.
Shooting Star:
A shooting star is the opposite of a hanging man, occurring after a bearish trend. It has a small real body at the bottom of the candlestick and a long upper wick, indicating potential strength in the market.
Bullish Engulfing:
A bullish engulfing pattern occurs when a small bearish candlestick is followed by a larger bullish candlestick, indicating a potential bullish reversal.
Bearish Engulfing:
A bearish engulfing pattern occurs when a small bullish candlestick is followed by a larger bearish candlestick, indicating a potential bearish reversal.
Piercing Line: A piercing line occurs when a bearish candlestick is followed by a bullish candlestick that opens below the previous close, but then closes above the previous day’s midpoint. This pattern indicates potential bullish reversal.
Dark Cloud Cover: A dark cloud cover occurs when a bullish candlestick is followed by a bearish candlestick that opens above the previous close, but then closes below the previous day’s midpoint. This pattern indicates potential bearish reversal.
Rising Sun: A rising sun occurs when a gap up occurs and the candlestick forms with a small real body and long upper wick. This pattern indicates potential bullish reversal.
Morning Star: A morning star occurs when a long bearish candlestick is followed by a small bullish or doji candlestick, which is followed by a large bullish candlestick. This pattern indicates potential bullish reversal.
Evening Star: An evening star occurs when a long bullish candlestick is followed by a small bearish or doji candlestick, which is followed by a large bearish candlestick. This pattern indicates potential bearish reversal.
Bullish Harami: A bullish harami occurs when a small bearish candlestick is followed by a small bullish candlestick. This pattern indicates potential bullish reversal.
Bearish Harami: A bearish harami occurs when a small bullish candlestick is followed by a small bearish candlestick. This pattern indicates potential bearish reversal.
Morning Doji Star: A morning doji star occurs when a long bearish candlestick is followed by a doji, which is followed by a large bullish candlestick. This pattern indicates potential bullish reversal.
Evening Doji Star: An evening doji star occurs when a long bullish candlestick is followed by a doji, which is followed by a large bearish candlestick. This pattern indicates potential bearish reversal.
Dragonfly Doji: A dragonfly doji occurs when the open and close are at the high of the day, with a long lower wick and no upper wick. This pattern indicates indecision in the market.
Gravestone Doji: A gravestone doji is the opposite of a dragonfly doji, occurring when the open and close are at the low of the day, with a long upper wick and no lower wick. This pattern indicates indecision in the market.
Three White Soldiers: Three white soldiers occur when three consecutive long bullish candlesticks form, each opening higher than the previous day’s open. This pattern indicates a strong bullish trend.
Three Black Crows: Three black crows occur when three consecutive long bearish candlesticks form, each opening lower than the previous day’s open. This pattern indicates a strong bearish trend.
Bullish Belt Hold: A bullish belt hold occurs when a bullish candlestick opens at or near the low of the day and closes near the high of the day. This pattern indicates potential bullish reversal.
Bearish Belt Hold: A bearish belt hold occurs when a bearish candlestick opens at or near the high of the day and closes near the low of the day. This pattern indicates potential bearish reversal.
Tweezer Tops: Tweezer tops occur when two candlesticks of approximately the same height, one bullish and one bearish, form at the top of a trend. This pattern indicates potential reversal.
Double Bottom: A double bottom occurs when two consecutive troughs form at approximately the same price level, with a moderate peak in between. This pattern indicates potential bullish reversal.