3 Main Candlesticks Price Action

Candlestick patterns are part of technical analysis in stock trading, forex, and other commodity trading. There are several variations of this pattern and it helps traders read price predictions for a certain period.

This method reflects the impact of trader sentiment on prices. This analysis is usually done to determine the right time to enter and exit a trade. Here are some of the main price action candlesticks:

Inside Bar

The inside bar indicates the consolidation of the market that is in uncertainty, the inside bar is identified as a candle formation whose high and low levels are within the range of the previous candle. That is why, the price action technique with this pattern requires observing 2 candlesticks at once, where the first candle is called the mother bar, and the second candle is the inside bar.

Pin Bar

The pin bar is one of the main candle patterns in the price action technique, because it is the most easily recognized and often found on charts. Its appearance is marked by a small candle body and one of the wicks extends beyond the size of the body. There are two types of pin bars, where a bearish pin bar that forms at the top of the price is identified as a bearish reversal marker, while a bullish pin bar at the bottom of the price is often interpreted as a bullish reversal signal.

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