How Many Candlestick Patterns are There in Forex? - Candlestick Patterns Analysis
Top 10 Candlesticks Patterns in Forex & their Analysis:
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Shown Below is a beginner traders guide on how to read and analyze candlesticks patterns:
Doji MT4 Candle Pattern Identification Forex Guide
This is a trading candle-sticks pattern with same opening and closing forex 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 candles pattern has long upper & lower shadows with opening and closing forex price at the middle. When the Long legged doji appears on a Forex trading chart it signals indecision between forex traders, buyers & the sellers.
Shown Below is an example screen-shot of the Long Legged Doji Forex candle sticks pattern
Doji Pattern - Doji MT4 Charts Forex Guide
Doji Chart Pattern - Doji Candle Pattern Identification Guide
Marubozu MT4 Chart Patterns Explained Forex Guide
Marubozu trading candlesticks pattern are long candlesticks that have no upper or lower shadows, Like the forex trading examples shown below.
Marubozu Candlesticks - Marubozu MT4 Chart Patterns Explained Forex Guide
Marubozu trading candlesticks pattern are continuing candlestick patterns that show forex 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 MT4 Chart Patterns Explained Forex Guide
Spinning tops trading candle-sticks 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 candles pattern. You can look for the pattern in your MT4 Platform Forex trading charts. The example below shows a screenshot to help traders when it comes to learning and understanding these candle sticks pattern.
How to Read Candlestick Charts - Spinning Tops MT4 Chart Patterns Explained Forex 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 forex trend has reversed before trading the signal from this trading candle-sticks pattern formation.
Hammer Candlestick Pattern and Hanging Man Candle Pattern MT4 Candle Pattern
Hammer Candlestick Pattern & Hanging Man Candlestick Pattern look alike but hammer is bullish reversal trading candle-sticks pattern & hanging man is a bearish reversal trading candle sticks pattern.
Hammer Candle Pattern and Hanging Man Candle Pattern Candles - MT4 Chart Patterns Explained Forex Guide
Hammer Candlestick MT4 Chart Patterns Explained Forex Guide
Hammer trading candles 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 Candle MetaTrader 4 Chart Patterns Explained Forex Guide
This hanging man trading candlesticks 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 - Candlestick Patterns Explained Forex Guide
Inverted Hammer Candlestick MT4 Chart Patterns Explained Forex Guide
This is a bullish reversal trading candles pattern. It occurs at the bottoms of a Forex trend.
Inverted hammer trading candlesticks pattern occurs at the bottom of a downtrend & signals the possibility of reversal of the downward Forex trend.
Inverted Hammer Candle Pattern - MT4 Charts Forex Guide
Shooting Star Candle MT4 Chart Patterns Explained Forex Guide
Shooting Star is a bearish reversal trading candles pattern. It forms at the tops of a forex market trend.
Shooting Star trading candlesticks pattern occur at the top of an uptrend in the forex market where the open forex price is same as the low & forex price then rallied up but was pushed back down to close near the open.
Shooting Star Candlestick - MT4 Chart Patterns Explained Forex Guide
Piercing Line Candlestick MT4 Chart Patterns Explained Forex 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 candles pattern is a bullish reversal trading candlesticks 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 candles 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 candlesticks pattern is displayed known as a piercing line signifying the market is piercing the bottom showing a market floor for the forex price downward trend.
Piercing Line Candlestick Pattern - MT4 Chart Patterns Explained Forex Guide
Dark Cloud Cover Candle MT4 Chart Patterns Explained Forex 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 candlesticks pattern shows that market opens higher & closes below the midpoint of the white body.
Dark Cloud cover trading candles 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 candles pattern is shown known as a cloud cover signifying the cloud as a ceiling for the forex price upwards trend.
Dark Cloud Cover Candle Pattern - Candlestick Patterns Explained Forex Guide
Morning Star Candlestick MT4 Candle Pattern Identification Forex Guide
Morning Star Candle Pattern - MT4 Chart Patterns Explained Forex Guide
Evening Star Candle MT4 Chart Patterns Explained Forex Guide
Opposite of the morning star candle sticks pattern
Evening Star Candle Pattern - MT4 Chart Patterns Explained Forex Guide
Engulfing Candles Patterns - MT4 Chart Patterns Explained Forex Guide
Engulfing is a reversal trading candles 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 Candles Patterns - MT4 Chart Patterns Explained Forex Guide
Trading Candlestick Patterns Course - Candlestick Patterns Explained
