Candlestick Flash Cards
Candlestick Flash Cards
Candlestick Flash Cards
These flashcards are intended to be printed front and back, cut, and used to drill
your recognition of candlestick patterns. Feel free to print them at home or take
them to a regular printer such as Kinko’s or Sir Speedy and have them printed for
you. We recommend a heavier paper, such as card stock, as this will be more
sturdy and make your flash cards last longer.
Instructions:
1) Print pages 5-12 front and back (the descriptions are inverse to allow for this
printing).
2) Visually look at the printing to make sure the correct descriptions are on the
back of the correct front images.
3) Use scissors or a paper cutter to cut along the bold black lines
4) Once your cards are cut, use them to drill your knowledge of candlesticks.
NOTE: If you use a professional printer, they will have the ability to cut the entire
card deck at once, ensuring uniform card sizes.
Page 4
Name this candlestick Name this candlestick
D E
vs.
B
A
C
What is this?
What is this?
Name the Black Candlestick Construction Name the White Candlestick Construction
C C
F F
A B
E E
B A
G G
D D
Average Day vs. Long Day Long Day vs. Short Day vs. Average
• Long upper shadows indicate selling pressure • Long lower shadows indicate buying pressure
• A long upper shadow at resistance is a strong • A long lower shadow at support is a strong
signal of bearish pressure signal of bullish pressure
• The long upper shadow shows the bulls were • The long lower shadow shows the bears were
in control, but the bears pushed them back in control, but the bulls pushed them back
• The longer the upper shadow, the more • The longer the lower shadow, the more bullish
bearish the candle the candle.
• They are the right Color Combination • You should tighten your stops
• They occur in the Right Location • Be aware of a possible reversal in swing
direction
• They do NOT indicate you should
immediately reverse your trading position.
Page 6
Name this candlestick Name this candlestick
Or Or
Page 7
Spinning Top High Wave Candle
• A specific type of spinning top candle • A specific type of spinning top candle
• Occurs after an upswing • Occurs after an upswing
• May be black or white • May be black or white
• Contains a smaller than average real body • Contains a smaller than average real body
• Lower shadow 2-3x the size of the real body • Upper shadow 2-3x the size of the real body
• Little or no upper shadow • Little or no lower shadow
• A weak bearish reversal signal • A strong bearish reversal signal
• A specific type of spinning top candle • A specific type of spinning top candle
• Occurs after a downswing • Occurs after a downswing
• May be black or white • May be black or white
• Contains a small real body • contains a small real body
• Lower shadow 2-3x the size of the real body • Upper shadow 2-3x the size of the real body
• Little or now upper shadow • Little or no lower shadow
• A strong bullish reversal signal • A weak bullish reversal signal
Doji
Long Legged Doji
• Candle with the same open and closing price
• Shows complete balance among buyers and • A specific type of Doji candlestick
sellers and agreed upon price • Has a both a long upper and lower shadow
• This candlestick very often occurs as part of a • Shows indecision, but a balance upon price
swing reversal • A strong reversal signal
• Bullish if @ support • Bullish if @ support
• Bearish if @ resistance • Bearish if @ resistance
Page 8
Name this Pattern Name this Pattern
Page 9
Tweezer Bottom Tweezer Top
• Two day pattern occurring after a downswing • Two day pattern occurring after an upswing
• First candle is black, second candle is white • First candle is white, second candle is black
• Matching lows where the close of the • Matching highs where the close of the
previous day matches the open of the 2nd previous day matches the open of the 2nd
• Particularly strong when candle bodies are • Particularly strong when candle bodies are
about the same size about the same size
• A Bullish Reversal signal • A Bearish Reversal signal
• Two day pattern occurring after a downswing • Two day pattern occurring after an upswing
• First candle is black, second candle is white. • First candle is white, second candle is black.
• Second candle gaps down at the opening. • Second candle gaps up at the opening.
• Second candle trades up and closes at least • Second candle trades down and closes at
1/2 way into the first candle’s real body. least 1/2 way into the first candle’s real body.
• Size or presence of shadows does not matter • Size or presence of shadows does not matter
• A Bullish Reversal signal • A Bearish Reversal signal
• Two day pattern occurring after a downswing • Two day pattern occurring after an upswing
• First candle is black, second candle is white • First candle is white, second candle is black
• Second candle gaps down at the opening • Second candle gaps up at the opening
• Second candle trades up and closes above • Second candle trades down and closes below
the first day’s real body (engulfs) the first day’s real body (engulfs)
• Size or presence of shadows does not matter • Size or presence of shadows does not matter
• A Bullish Reversal Signal • A Bearish Reversal signal
• Two day pattern occurring after a downswing • Two day pattern occurring after an upswing
• First candle is black, second candle is white • First candle is white, second candle is black
• Second candle gaps up at the opening • Second candle gaps down at the opening
• Second candle closes below previous day’s • Second candle closes above previous day’s
open (inside previous day’s body) open (inside previous day’s body)
• Size or presence of shadows does not matter • Size or presence of shadows does not matter
• A Bullish Reversal Signal • A Bearish Reversal signal
Page 10
Name this Pattern Name this Pattern
Page 11
One White Soldier One Black Crow
• Two day pattern occurring after a downswing • Two day pattern occurring after an upswing
• First candle is black, second candle is white • First candle is white, second candle is black
• Second candle gaps up at the opening • Second candle gaps down at the opening
• Second candle closes above previous day’s • Second candle closes below previous day’s
open (above previous day’s body) open (below previous day’s body)
• Size or presence of shadows does not matter • Size or presence of shadows does not matter
• A strong Bullish Reversal Signal • A Bearish Reversal signal
• Three day pattern after a downswing • Three day pattern after an upswing
• First candle is black, second candle is • First candle is white, second candle is
spinning top, third is white spinning top, third is black
• Ideally second candle has a gap on one side • Ideally second candle has a gap on one side
• Third day should push up at least 1/2 way into • Third day should push down at least 1/2 way
first day’s candle into first day’s candle
• A strong Bullish Reversal Signal • A strong Bearish Reversal Signal
• Three day pattern after a downswing • Three day pattern after an upswing
• First candle is black, second candle is a Doji, • First candle is white, second candle is a Doji,
third is white better than average candle third is black better than average candle
• Ideally second candle has a gap on one side • Ideally second candle has a gap on one side
• Third day should push at least 1/2 way into • Third day should push down at least 1/2 way
first day’s candle into first day’s candle
• A strong Bullish Reversal Signal • A strong Bearish Reversal Signal
Page 12