How Many Types of Candlesticks are There? - Candlestick Patterns

The top candles patterns used to trade Forex - The top ten most commonly used candles trading patterns used to trade the online forex market.

Doji Candles Patterns

Doji is a candle pattern with the same opening & 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 trading candle:

Long-legged doji trading candle pattern has long upper & lower shadows with opening and closing price at the middle. When the Long-legged doji appears on a Forex chart it indicates indecision between currency traders, the buyers & sellers.

Below is an example screen shot image of the Long Legged Doji Forex candles pattern

Doji Pattern - Doji Candlesticks Patterns

Doji Pattern - Doji Candlesticks Patterns

Marubozu Candles Patterns

Marubozu trading candle pattern are long candlesticks that have no upper or lower shadows, Like the forex trading examples shown below.

Marubozu Candles - Marubozu Candlesticks Patterns

Marubozu trading candlestick pattern are continuing candlestick patterns that show price is going to continue in same direction as that of marubozu candlestick. The marubozu trading candlesticks pattern can be white/blue or black/red depending on the direction of the market trend.

Spinning Tops Candles Candles Patterns

Spinning tops trading candle pattern have a small body with long upper & lower shadows. These spinning tops trading candles patterns are referred to by this name because these candles arrangements are similar to spinning top on a match-stick.

The upper and lower shadows of the spinning tops candlesticks trading pattern are longer than the body. The example below shows the spinning top trading candle pattern. You can look for the pattern in your MetaTrader 4 Platform forex charts. The example below shows a screenshot to help traders when it comes to learning and understanding these trading candlestick pattern.

How to Read Candlestick Charts - Spinning Tops Candlesticks Patterns

The color of the spinning top candlestick trading candlesticks pattern is not very important, this pattern explain indecision between buyers & sellers in FX market. When these forex 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 might soon reverse and start going the other direction. However, it is better to wait for confirmation trading signals that the direction of a currency has reversed before trading the signal from this trading candle pattern formation.

Hammer Candle Forex Trading Pattern and Hanging Man Candle Forex Trading Pattern

Hammer Candle Pattern & Hanging Man Candle Pattern look alike but hammer is bullish reversal trading candle pattern and hanging man is a bearish reversal trading candlestick pattern.

Hammer Candle Pattern & Hanging Man Candlestick Pattern Candles - Candlesticks Patterns

Hammer Candlestick Candles Patterns

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 Patterns

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 Candlestick Pattern - Candlesticks Patterns

Inverted Hammer Candles Patterns

This is a bullish reversal trading candlestick pattern. It occurs at the bottoms of a Forex trend.

Inverted hammer trading candle pattern occurs at the bottom of a downtrend & indicates the possibility of reversal of the downward Forex trend.

Inverted Hammer Candle Pattern - Candlesticks Patterns

Shooting Star Candles Patterns

Shooting Star is a bearish reversal trading candle pattern. It forms at the top 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 the same as the low & price then rallied up but was pushed back down to close near the open.

Shooting Star Candle-Stick - Candlesticks Patterns

Piercing Line Candlestick Candles Patterns

Piercing line candlestick pattern is a long black body followed by a long white body candlestick.

White body pierces the midpoint of the prior black body.

This Piercing Line trading candlestick 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 candle pattern is displayed referred to as a piercing line signifying the market is piercing the bottoms showing a market floor for the currency price downward forex trend.

Piercing Line Candle Pattern - Candlesticks Patterns

Dark Cloud Cover Candles Patterns

Opposite of piercing candle candle.

This candle is a long white body followed by a long black body.

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 trading direction.

Dark Cloud cover trading candle pattern is shown known as a cloud cover signifying the cloud as a ceiling for the currency price upward forex trend.

Dark Cloud Cover Candlestick Pattern - Candlesticks Patterns

Morning Star Candlestick Candles Patterns

Morning Star Candle - Candlesticks Patterns

Evening Star Candles Patterns

Opposite of the morning star candles pattern

Evening Star Candlestick Pattern - Candlesticks Patterns

Engulfing Candles Patterns - Candles Patterns

Engulfing is a reversal trading candlestick pattern which can be bearish or bullish depending upon whether it shows up at the end of a forex market downtrend or at the end of a forex market uptrend.

Bullish and Bearish Engulfing Candle Patterns - Candlesticks Patterns

Candle Patterns PDF - Candle Patterns Discussed