Candlesticks - Candlestick Patterns Tutorial Guide - Candlestick Patterns For Day Trading
Drawing Candlesticks in MT4 - Candles Patterns Guide for Day Trading
To draw these candlesticks on the MT4, choose the charts plotting tools within the "MT4 Toolbar" - shown below.
To view this toolbar on MetaTrader 4 go to 'View' Next to file at the tops left corner of the MT4 Platform, Click 'View', Then Click 'Toolbars', Then check 'Charts' Button Key. Above tool bar will appear.
Once the above toolbar, appears you can then select the type you want to convert to, If you want to trade using the bar charts, click the bar tool button as shown above, for line charts click the line tool button, for Japanese candlesticks patterns format click the "candlesticks charts tool button".
Candles - Candlestick Guide
Doji Candles - Candlestick Guide
This is a trading candle-stick pattern with same opening and closing price. There are various types of doji trading candles pattern which form on Forex charts.
The following examples show various patterns of the doji candle:
Long-legged doji trading candle pattern has long upper & lower shadows with opening & closing price at the middle. When the Long-legged doji pops up on a Forex chart it indicates indecision between currency traders, buyers & the sellers.
Shown Below is an example screen-shot image of the Long Legged Doji Forex candle sticks pattern
Doji Chart Pattern - Doji Candles - Candlestick Guide
Doji Chart Pattern - Doji Candles - Candlestick Guide
Marubozu Candle-sticks - Candlestick Guide
Marubozu trading candle pattern are long candlesticks that have no upper or lower shadows, Like the forex trading examples shown below.
Marubozu Candlesticks - Marubozu Candles - Candlestick Guide
Marubozu trading candlestick pattern are continuing candlestick patterns that show price is going to continue in the same direction as that of marubozu candlestick. The marubozu trading candles pattern can be white/blue or black/red depending on direction of the market trend.
Spinning Tops Candlesticks - Candlestick Guide
Spinning tops trading candlestick pattern have a small body with long upper and lower shadows. These spinning top trading candles patterns are referred to by this name because these candlesticks arrangements are similar to spinning top on a match-stick.
The upper and lower shadows of the spinning tops trading candlesticks pattern are longer than the body. The example below shows the spinning top trading candle pattern. You can look for the pattern in your MT4 Platform forex charts. The example below shows a screenshot to help traders when it comes to learning and understanding these candle pattern.
How to Read Candlestick Charts - Spinning Tops Candle-sticks - Candlestick Guide
The color of the spinning tops candlestick trading candle sticks pattern is not very important, this formation explain the indecision between the buyers & sellers in FX market. When these forex chart patterns appear at the top of a forex trend or at the bottom of the forex trend it might signify that the forex trend is coming to an end and it may soon reverse and start going the other direction. However, it is better to wait for confirmation signals that the direction of a currency has reversed before trading the signal from this trading candlestick pattern formation.
Hammer Candlestick Pattern & Hanging Man Candles - Candles Guide
Hammer Candlestick Pattern & Hanging Man Candlestick Pattern look alike but hammer is bullish reversal trading candle pattern and hanging man is a bearish reversal trading candlestick pattern.
Hammer Candle Pattern and Hanging Man Candle Pattern Candles - Candles - Candlestick Guide
Hammer Candles - Candlestick Guide
Hammer trading candlestick pattern is a potentially bullish candle pattern which occurs during a forex downtrend. It is named so because the market is hammering out a market bottoms.
Hanging Man Candles - Candlestick Guide
This hanging man trading candle pattern is a potentially bearish forex reversal signal that forms during a forex uptrend. It is named so because it resembles a man hanging on a noose up high.
Hanging Man Candle Pattern - Candles - Candlestick Guide
Inverted Hammer Candles - Candlestick Guide
This is a bullish reversal trading candle pattern. It occurs at the bottoms of a Forex trend.
Inverted hammer trading candle pattern occurs at the bottom of a downtrend and indicates the possibility of reversal of the downward Forex trend.
Inverted Hammer Candle Pattern - Candles - Candlestick Guide
Shooting Star Candles - Candlestick Guide
Shooting Star is a bearish reversal trading candle pattern. It forms at the tops of a forex market trend.
Shooting Star trading candle pattern occur at the top of an uptrend in the forex market where the open price is same as the low & price then rallied up but was pushed back down to close near the open.
Shooting Star Candlestick - Candles - Candlestick Guide
Piercing Line Candlestick Candle-sticks - Candlestick Guide
Piercing line candle pattern is a long black body followed by a long white body candlestick.
White body pierces the mid point of the prior black body.
This Piercing Line trading candle pattern is a bullish reversal trading candle pattern that occurs at the bottom of a market downtrend. It shows that the market opens lower & closes above the midpoint of the black body.
This Piercing Line trading candle pattern shows that the momentum of the downtrend is reducing and the market trend is likely to reverse & move in an upwards direction.
This Piercing Line trading candle pattern is displayed known as a piercing line signifying the market is piercing the bottom showing a market floor for the currency price downward forex trend.
Piercing Line Candlestick Pattern - Candles - Candlestick Guide
Dark Cloud Cover Candles - Candlestick Guide
Opposite of piercing candle candlestick.
This candle is a long white body followed by a long black body.
The black body pierces the mid point of the prior white body.
This is a bearish reversal pattern which occurs at the top of an uptrend.
Dark Cloud cover trading candlestick pattern that the market opens higher & closes below the midpoint of the white body.
Dark Cloud cover trading candle pattern shows that the momentum of the uptrend is reducing and the market trend is likely to reverse & move in a downwards forex direction.
Dark Cloud cover trading candle-stick pattern is shown known as a cloud cover signifying the cloud as a ceiling for the currency price upward forex trend.
Dark Cloud Cover Candle Pattern - Trading Candles Tutorial
Morning Star Candlestick Candle-sticks - Candlestick Guide
Morning Star Candle Pattern - Candles - Candlestick Guide
Evening Star Candles - Candlestick Guide
Opposite of the morning star candle sticks pattern
Evening Star Candle Pattern - Candles - Trading Candlestick Patterns Tutorial - Candlestick Guide
Engulfing Candles Patterns - Candles - Candlestick Guide
Engulfing is a reversal trading candlestick pattern which can be bearish or bullish depending upon whether it appears at the end of a forex market downtrend or at the end of a forex market uptrend.
Bullish & Bearish Engulfing Trading Candles Patterns - Candles - Candlestick Guide
Drawing Candlesticks on MetaTrader 4 - Candles Patterns Guide for Day Trading
