Must-Know Candlestick Patterns for Every Trader
📍 Morning Star
This is a three-candle pattern. The first is a strong bearish candle following a downtrend. The second candle opens below the previous close, with a small body and long wicks — showing indecision in the market. The third is a strong bullish candle, equal to or longer than the first one, indicating the start of a new uptrend.
📍 Doji Candle
The Doji represents a possible reversal, either upward or downward. It has long wicks and almost equal open and close prices. While not a very strong signal alone, it reflects market uncertainty and can suggest an upcoming change in trend.
📍 Hammer Candle
A simple yet powerful bullish reversal pattern that appears at the end of a downtrend. It has a small body and a long lower wick like a hammer, showing price rejection and signalling a potential upward move. It can also appear in uptrends, though with less reliability.
If you want to trade better and grow into a confident, professional trader, understanding these patterns can really help. When they show up, the market could be ready to reverse — so keep an eye out to manage your trades or enter at better levels.
Hope you find this knowledge useful!
#ForexIndia #CandlestickPatterns #TechnicalAnalysisIndia #PriceActionTrading #MorningStarPattern #DojiCandle #HammerCandle #IndianTraders #LearnTrading #NiftyTraders #SmartTradingMoves
📍 Morning Star
This is a three-candle pattern. The first is a strong bearish candle following a downtrend. The second candle opens below the previous close, with a small body and long wicks — showing indecision in the market. The third is a strong bullish candle, equal to or longer than the first one, indicating the start of a new uptrend.
📍 Doji Candle
The Doji represents a possible reversal, either upward or downward. It has long wicks and almost equal open and close prices. While not a very strong signal alone, it reflects market uncertainty and can suggest an upcoming change in trend.
📍 Hammer Candle
A simple yet powerful bullish reversal pattern that appears at the end of a downtrend. It has a small body and a long lower wick like a hammer, showing price rejection and signalling a potential upward move. It can also appear in uptrends, though with less reliability.
If you want to trade better and grow into a confident, professional trader, understanding these patterns can really help. When they show up, the market could be ready to reverse — so keep an eye out to manage your trades or enter at better levels.
Hope you find this knowledge useful!
#ForexIndia #CandlestickPatterns #TechnicalAnalysisIndia #PriceActionTrading #MorningStarPattern #DojiCandle #HammerCandle #IndianTraders #LearnTrading #NiftyTraders #SmartTradingMoves
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Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.