SINGLE CANDLESTICKS PATTERN (PART-12)

 In this post I am going to tell you about candlesticks pattern. There are 3 types of candlesticks pattern:- single, double and triple. In this post we will talk only about single candlesticks pattern.

Single candlesticks patterns are more relevant and accurate.

Larger the timeframe greater the profit.

1. About candles— We had already talked about candles in past post that green candle open from bottom and close at top and red candle open from top and close at bottom. 

2. Hammer and hanging man— Hammer is a bullish candle but when it forms at top it acts as bearish. Hanging man is a bearish candle but forms at bottom, acts as a bullish candle. 

★ Bullish pattern always forms at bottom and bearish pattern always forms at top.

★ If you see that the trend is continuous then trail your stoploss to make 1:2 profit (your profit has to be double than your stoploss)

3. Inverted hammer and shooting star— Inverted hammer is a bullish candle but forms at top, acts as a bearish candle. Shooting star is a bearish candle but forms at bottom, acts as a bullish candle.

★ Volume is important

4. Dragonfly doji and Gravestone doji— Open and close of dragonfly doji and Gravestone doji are same. Dragonfly doji is a bullish candle but forms at top acts as a bearish and Gravestone doji is a bearish candle but forms at bottom acts as a bullish candle.

Apart from these 4 patterns there are many more and we will discuss on them in upcoming posts.

If you have not visited our last post on INDICATORS then click on this link or copy it and paste it on chrome

Link- https://commerceworldteam.blogspot.com/2024/04/top-6-indicators-part-11.html

Please comment below if you like our post and also comment below if you face any kind of difficulties.

Thank you