Posts Tagged ‘candlestick’

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Become an Expert on Candlesticks in 3 Minutes

This video is a beginner's guide to candlesticks. Candlestick charts are more easier to read when compared to other types of charts. They are extremely popular among forex traders. Candlestick charts are a great tool to read price action. They are a great tool for observing trends and reversals. Candlestick patterns such as shooting star, hammer, etc. are very popular among forex traders and serve as a tool for finding […]

Forex Candlesticks Tutorial | The Double Top & Head and Shoulders Pattern — Lesson 4

This is part 4 of the series. In this video, you will learn about the double top and the head and the shoulders pattern. The opposite of these patterns are the double bottom and the inverse head and shoulders pattern. The double top pattern occurs when the price is met with strong resistance forming two consecutive highs. You can use the confirmation when the price breaks the neckline and a reduction in volume. This is a bearish reversal […]

Forex Candlesticks Tutorial | Triple Candlestick Patterns — Lesson 3.2

This is part 3.2 of the series. The triple candlestick pattern consists of three candlesticks and can be used for both the reversal and continuation. Here are some of the configurations. Morning star / Evening star: The morning star is a bullish reversal pattern. It is followed by a doji candle. It is then followed by a big bullish candlestick. The opposite is the evening star pattern. Tri-Star: For a bearish reversal pattern, it consists […]

Forex Candlesticks Tutorial | Double Candlestick Patterns — Lesson 3.1

This is part 3.1 of the series. In this video, you will learn about double candlestick pattern. This pattern consists of two candlesticks indicating a reversal. Here are some of these patterns. Absorption: The first one is a bullish candlestick. It is followed by a bearish candlestick with its body more than the 50% of the first one. This is a bearish reversal pattern. The opposite of this is the bullish reversal […]

Forex Candlesticks Tutorial | Single Candlestick Patterns — Lesson 3

This is part 3 of the series. In this video, you will learn about single candlestick pattern. You can use this pattern to identify potential reversals in the market and look for trading opportunities. This pattern consists of a single candlestick. Some examples, include, hammer, shooting star, spinning top, and inverted hammer. You can also use this pattern for trend continuation. A hammer candlestick consists of a short body and a long […]

Forex Candlesticks Tutorial | What Information Do Candlesticks Provide? — Lesson 2

This is part 2 of the series. In this video, you will learn about The factors affecting the shift in demand and supply in the market. The sentiment to be understood from the shape of the candlesticks. The explanation for a doji candlestick. The battle between the buyers and sellers determines the pattern of a candlestick. A doji candlestick indicates that the neither the bulls nor the bears are winning in the market, with no real body for the candlestick. It indicates indecision in the market. You can […]

Forex Candlesticks Tutorial | Introduction to Japanese Candles — Lesson 1

This is part 1 of the series. In this video, you will learn the following. The components of a Japanese candlestick. The meaning of the color of a candlestick. The candlesticks in the perspective of their timeframes. The definition of a Japanese candlestick. Each candlestick represents the high price, low price, open price, and close price for a particular time period. It also consists of a body and wicks above and below the body indicating the highest and the lowest price for that period of time. Normally, green […]

Hammer and Hanging Man Chart Patterns

In this video, you will learn about the hammer and the hanging man candlestick reversal patterns. The hammer is a single candlestick pattern found at the end of a downtrend. It consists of a candlestick with a small body with a long wick, twice the size of the actual body. The colour of the body of the candlestick does not matter. The psychology behind this pattern is that the sellers initially have the control, but then the buyers arrive, and push the prices […]

Simple Candlestick Reversal Patterns | Engulfing and Harami

In this video, you will look at two important candlestick reversal patterns, the engulfing and the harami pattern. There are two types of engulfing pattern, the bearish engulfing and the bullish engulfing pattern. The bearish engulfing is a two candlestick and a bearish reversal pattern. It occurs at the end of an uptrend, when buyers run out of steam and cannot push the price any further. The first candlestick is a bullish candlestick. It is followed by a large […]

Inverted Hammer Candlestick Explained

In this video, you will learn about the inverted hammer candlestick pattern. This is a bullish reversal and a single candlestick pattern. You can locate this pattern when a downtrend comes to an end. This pattern consists of a small body with a long upper wick. There can be a little or no lower wick. The length of the upper wick should be twice the length of the actual body. This is similar to a shooting […]