I will follow every time or give me some tips
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Sir,
I see your all video, but i am confused from there. sir would you mind please advice me which candlestick pattern
i will follow every time or give me some tips about profitable candlestick pattern with some picture.
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I will follow every time or give me some tips
Some single candlestick patterns
Japanese candlestick pattern predictions have high accuracy rate.
Traders should know four basic single Japanese candlestick patterns which are commonly used for the predictions.
Hammer and Hanging man
The hammer and hanging man look exactly alike but have totally different meanings depending on past price action.
Both have little bodies (black or white), long lower shadows, and short or absent upper shadows.
The hammer is a bullish reversal pattern that forms during a downtrend.
When price is falling, hammers signal that the bottom is near and price will start rising again.
The long lower shadow indicates that sellers pushed prices lower, but buyers were able to overcome this selling pressure and closed near the open.
More bullish confirmation is needed before it’s safe to pull the trigger.
A typical example of confirmation would be to wait for a white candlestick to close above the open to the right side of the hammer.
The hanging man is a bearish reversal pattern that can also mark a top or strong resistance level.
When price is rising, the formation of a hanging man indicates that sellers are beginning to outnumber buyers.
The long lower shadow shows that sellers pushed prices lower during the session.
Buyers were able to push the price back up some but only near the open.
Inverted Hammer and Shooting Star
The inverted hammer and shooting star also look identical.
The only difference between them is whether you’re in a downtrend or uptrend.
Both candlesticks have petite little bodies (filled or hollow), long upper shadows and small or absent lower shadows.
The inverted hammer occurs when price has been falling suggests the possibility of a reversal.
Its long upper shadow shows that buyers tried to bid the price higher.
Since the sellers weren’t able to close the price any lower, this is a good indication that everybody who wants to sell has already sold.
The shooting star is a bearish reversal pattern that looks identical to the inverted hammer but occurs when price has been rising.
Its shape indicates that the price opened at its low, rallied, but pulled back to the bottom.
This means that buyers attempted to push the price up, but sellers came in and overpowered them.
This is a definite bearish sign since there are no more buyers left.