Candlestick Patterns

Candlestick Patterns





In the world of forex trading there are many things that new traders need to take into account, because the world they are entering is littered with many avenues that can lead to the inevitable failure and closing of trading accounts due to lack of funds. To become successful at trading, there is a necessity to have as much information on your side possible, and one such component to becoming a successful trader is the ability to read a chart and establish where buyers and sellers are.

This is where the use of candlestick patterns come in and make everything a lot clearer. In fact, the candlestick chart has been around for approximately 300 years and can display more information than the typical line chart you often see being used and can be seen as a forex leading indicator.

Candlestick Patterns

Above is the typical example of what a candlestick will look like. The size of its body can invariably change and will have different characteristics that will determine different market outcomes.

In the chart below we will go over some of the most recognisable and most powerful candlestick patterns to help you become a better trader.

Bullish Engulfing PatternBullish EngulfingBearish Engulfing PatternBearish Engulfing
Bullish Harami PatternBullish HaramiBearish Harami PatternBearish Harami
Bullish Hammer PatternBearish Hammer Pattern
Bullish Spinning Top PatternBearish Spinning Top Pattern

More to follow…

 

*Please Note, Binary Options and Forex trading can carry a high level of risk to your capital as you could lose all of your investment. These products may not be suitable for every investor, therefore ensure you understand the risks and seek independent advice. Invest only what you can afford to lose. We are NOT financial advisers and we do NOT offer financial advice.