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    Candles & Charts Pattern

    Uploaded by

    Jamal Raja
    The document describes various candlestick patterns such as the hammer candle, doji fly candle, and spinning top candle that can indicate reversals or changes in trend. It also outlines several chart patterns including symmetrical triangles, ascending triangles, head and shoulder patterns, double bottoms, bull flags, and falling wedges. These patterns provide clues about when a new trend may be starting or help confirm the strength of an existing trend.

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    © All Rights Reserved
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    Candles & Charts Pattern

    Uploaded by

    Jamal Raja
    184 views7 pages
    The document describes various candlestick patterns such as the hammer candle, doji fly candle, and spinning top candle that can indicate reversals or changes in trend. It also outlines several chart patterns including symmetrical triangles, ascending triangles, head and shoulder patterns, double bottoms, bull flags, and falling wedges. These patterns provide clues about when a new trend may be starting or help confirm the strength of an existing trend.

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    CANDLES & CHARTS PATTERN

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    The document describes various candlestick patterns such as the hammer candle, doji fly candle, and spinning top candle that can indicate reversals or changes in trend. It also outlines several chart patterns including symmetrical triangles, ascending triangles, head and shoulder patterns, double bottoms, bull flags, and falling wedges. These patterns provide clues about when a new trend may be starting or help confirm the strength of an existing trend.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    184 views7 pages

    Candles & Charts Pattern

    Uploaded by

    Jamal Raja
    The document describes various candlestick patterns such as the hammer candle, doji fly candle, and spinning top candle that can indicate reversals or changes in trend. It also outlines several chart patterns including symmetrical triangles, ascending triangles, head and shoulder patterns, double bottoms, bull flags, and falling wedges. These patterns provide clues about when a new trend may be starting or help confirm the strength of an existing trend.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 7

    CANDLES PATTERN

    1. HAMMER CANDLE

     Bullish Reversal
     Next candles will be Green
     Buying pressure is High

    2. DOFI FLY CANDLE

    Classical Gravestone Dragon fly


    Doji Doji Doji

     Trend Reversal
     Confusion between buyers and sellers
     Contains No body

    3. SPINNING TOP

     Same size of wicks upside and downside


     Forms at top than next candle takes trend reversal
    4. Shooting Star

     Found in Uptrend
     Bearish Reversal
     Downtrend Expected

    5. Bullish Engulfing Candle

     Found in Down Trend


     Beginning of Bullish Trend
     This pattern is valid when Bullish candle fully engulfs Bearish candle
     Bearish Engulfing Candle is opposite

    6. Three White Solders


     1st Candle Bullish, 2nd Candle Bullish Bigger than 1st Candle… 3rd Candle Bullish with no or small
    shadow
     Found after Downtrend
     Very Powerful Bullish Trend Reversal Pattern

    7. Morning Star Candle

     1st Candle must be Bearish


     2nd Candle is bearish or bullish doesn’t matter
     Formed in Down Trend
     Bullish reversal candle, Beginning of new trend
    CHART PATTERNS
    1. SYMMETRICAL TRIANGLE

     Having sides merging together at point of burst


     Needs At least two lows of Resistance and two highs of Support
     Found in Uptrend or Downtrend
     Interpretation: Break Down / Break Out

    2. ASCENDING TRIANGLE

     Need At least two resistance lines in Horizontal Sequence (Straight Line)


     Two Support Lines Parallel
     Formed in Uptrend
     Interpretation: Wait for the break out
     Descending triangle is same in opposite direction
    3. HEAD & SHOULDER TRIANGLE

     Bearish reversal Pattern


     Found in Uptrends
     Interpretation: Neckline gets break the price will be free fall
     Always Use bigger time frames to achieve good results like 4HR, Day chart

    4. DOUBLE BOTTOM CHART

     Resembles as letter “W”


     Two Supports of same length
     Formed at the end of Down trend
     Bullish reversal pattern
     Interpretation: On breaking the neckline, Bullish rally on upside
     Double top is reciprocal of same pattern
    5. BULL FLAG CHAT PATTERN

     Continuation pattern
     Occurs in uptrend
     Indicates Continuation of Uptrend
     Take profit equals to size of Flag pole
     Bearish Flag is opposite

    6. FALLING WEDGE CHART

     Falling wedge is Bullish trend


     It is widest at top and becomes narrower as it moves downtrend until the trend line gets break
    out
     Wait for the breakout then take entry
     Rising Wedge is opposite in trend

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