Valid Important Candle Patterns

Reading trends in the market with technical analysis guided by candlestick patterns is a profitable thing for traders. Candle patterns will always form in the market, this is a great opportunity for traders. However, traders should not rush into making transactions, which neglect other considerations. In a candlestick, you have to understand the character of the candle, namely how the body is, how long the tail is, what the ratio is between the body and the tail and its position (at the top, bottom or middle end). Inside the candlestick there are candle patterns and chart patterns. Candle patterns should not be used as one of the main parts to determine whether to go up or down, but to be an initial guide for candle patterns to learn about, traders can find out more later. The main candle patterns that often appear are doji, hammer, shooting star, and hanging man.

Doji

Candlesticks with very small bodies (the open and close prices are almost the same) are called doji. Overall, this doji is considered a sign of uncertainty in the market due to the absence of bulls and bears to cover the price territory. A Doji that stands alone is called a neutral pattern. However, if a doji is formed after a series of bullish candlesticks with long bodies, it indicates that the buyers are exhausted and weakened, and the price has an opportunity and turned down. If a doji is formed in a series of bearish candles, the seller has weakened and there is potential to turn up.

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