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Some common Candlestick patterns
Candlestick patterns are commonly used for technical trading.
Since 18th century candlesticks are being used by Japanese, which in the 19th century was discovered by others.
The high accuracy of the predictions given through candlesticks is the reason behind its popularity.
Here are some common candlesticks pattern that are seen in the graphs.
Falling Three Methods
This is a bearish continuation pattern.
A long black body is followed by three small body days, each fully contained within the range of the high and low of the first day.
The fifth day closes at a new low.
Downside Tasuki Gap
It is a continuation pattern with a long, black body followed by another black body that has gapped below the first one.
The third day is white and opens within the body of the second day, then closes in the gap between the first two days, but does not close the gap.
Inverted Hammer
This is a one day bullish reversal pattern.
In a downtrend, the open is lower, then it trades higher, but closes near its open, therefore looking like an inverted lollipop.
Long Day
A long day represents a large price move from open to close, where the length of the candle body is long.
Harami
Harami is a two day pattern that has a small body day completely contained within the range of the previous body.
The bodies are the opposite in color.
Harami Cross
Harami cross is a two day pattern similar to the Harami.
The difference is that the last day is a Doji.
Inverted Hammer
This is a one day bullish reversal pattern.
In a downtrend, the open is lower, and then it trades higher, but closes near its open, therefore looking like an inverted lollipop.
Long Day
A long day represents a large price move from open to close, where the length of the candle body is long.
What are the Candlestick Patterns that you use to know when a Particular Trend will continue
