Candle Setups Tutorial with Examples

Gold Candlesticks - these candlesticks use the same price data as bar charts (open, high, low, and close). However, these candlesticks resembles a candle with wicks on both ends as opposed to bar charts that resembles bars.

How to Interpret Candles Setups

The rectangle part of a candle is known as the body.

The high and low of the candle are described as shadows & drawn as poking lines.

Gold Candlestick Setups Tutorial with Examples Guide

The color of the candle-stick is either blue or red

• (Blue or Green Color) - Gold Prices moved up
• (Red Color) - Gold Prices moved down

Most platforms like the MT4 gold platform, use colors to mark the direction. Colors used are blue or green - green color candlesticks: when price moves up, red color candlesticks: when price moves down.

Candle Setups Tutorial with Examples PDF

Candle Setups Tutorial with Trading Examples

Doji Candlestick Setups Lesson with Examples Tutorial

This is a candle pattern with the same opening & closing price. There are various types of doji candles setup that form on charts.

following example explain various patterns of the doji candle:

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

Shown Below is example screen-shot image of the Long Legged Doji candle-sticks setup

Doji Chart Setup - Doji Candle Patterns Lesson with Examples Tutorial

Doji Chart Setup - Doji Candle Patterns Lesson with Examples Tutorial

Marubozu Candle Patterns Guide with Examples Guide

Marubozu candle pattern are long candles that have no upper or lower shadows, Like shown below.

Marubozu Candlesticks - Marubozu Candlestick Setups Guide with Examples Guide

Marubozu candle-stick setup are continuing candle patterns which show price is going to continue in same direction as that of the marubozu candle-stick. Marubozu candle-sticks setup can be white/blue or Black/red depending on direction of the trend.

Spinning Tops Candles Candle Setups Tutorial with Examples PDF

Spinning tops candle-stick setup have a small body with long upper and lower shadows. These spinning tops 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 candle-sticks setup are longer than the body. Examples illustrated & described below portrays the spinning top candle pattern. You can look for the pattern in your MetaTrader 4 Gold Trading Platform charts. Examples illustrated & described below portrays a image to help traders when it comes to learning & understanding these candle-stick setup.

How to Read Candlestick Charts - Spinning Tops Candle Setups Guide with Examples Guide

Color of the spinning top candle-stick candles setup isn't very important, this pattern explain the indecision between buyers and sellers in Gold Trading market. When these chart patterns appear at the top of a trend or at the bottom of the trend it may trading signal that the trend is coming to an end & it might soon reverse and start going the other direction. However, it is better to wait for confirmation signals that the direction of a has reversed before trading the signal from the candlestick pattern formation.

Hammer Candle Setup & Hanging Man Candlestick Setups Tutorial with Examples PDF

Hammer Candle Pattern and Hanging Man Candlestick Setup candles look alike but hammer is bullish reversal gold candle pattern & hanging man is a bearish reversal gold candle-stick setup.

Hammer Candle Pattern & Hanging Man Candle Pattern - Candle Setups Guide with Examples Guide

Hammer Candle Setups Tutorial with Examples PDF

Hammer candle-stick setup is a potentially bullish candlestick pattern that forms during a downwards trend. It is named so because the market is hammering out a market bottoms.

Hanging Man Candlestick Patterns Tutorial with Examples PDF

This hanging man candle-stick setup is a potentially bearish reversal signal which occurs during a upwards trend. It is named so because it looks like a man hanging on a noose up high.

Hanging Man Candle Pattern

Inverted Hammer Candle Setups Tutorial with Examples PDF

This is a bullish reversal candle setup. It forms at the bottoms of a trend.

Inverted hammer candle setup forms at the bottom of a down trend and indicates possibility of reversal of the downwards trend.

Inverted Hammer Candlestick Pattern - Candle Setups Guide with Examples Guide

Shooting Star Candle Patterns Tutorial with Examples PDF

Shooting Star is a bearish reversal candlestick pattern. It occurs at the top of a trend.

Shooting Star candle pattern form at the top of an up trend in the market where the open price is same as the low and price then rallied up but was pushed back down to close near the open.

Shooting Star Candle - Candle Setups Guide with Examples Guide

Piercing Line Candle Setups Tutorial with Examples PDF

Piercing line candle pattern is a long black body followed by a long white body candle-stick.

The white body pierces the midpoint of the prior black body.

This Piercing Line candle pattern is a bullish reversal candle pattern that forms at bottom of a market downwards trend. It shows that the market opens lower and closes above the midpoint of the black body.

This Piercing Line candle pattern displays that the momentum of the down trend is reducing and the market trend is likely to reverse & move in an up-wards direction.

This Piercing Line candle pattern is cited referred to as a piercing line signifying the market is piercing the bottoms showing a market floor for the price downwards trend.

Piercing Line Candle Setup - Candle Setups Guide with Examples Guide

Dark Cloud Cover Candle Patterns Tutorial with Examples PDF

Opposite of piercing candle-stick candlestick.

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

Black body pierces the midpoint of the prior white body.

This is a bearish reversal pattern that forms at the top of an upwards trend.

Dark Cloud Cover candle-stick setup that the market opens higher and closes below the midpoint of the white body.

Dark Cloud Cover candle pattern displays that the momentum of the up trend is reducing and the market trend is likely to reverse & move in a downwards trade direction.

Dark Cloud Cover candle-stick setup is cited known as a cloud cover signifying the cloud as a ceiling for price up-wards trend.

Dark Cloud Cover Candlestick Pattern

Morning Star Candle Setups Tutorial with Examples PDF

Morning Star Candle Setup - Candle Setups Guide with Examples Guide

Evening Star Candle Patterns Tutorial with Examples PDF

Opposite of morning star candlesticks setup

Evening Star Candlestick Pattern - Candle Setups Tutorial with Examples - Candlestick Guide

Engulfing Candle Sticks Setups

Engulfing is a reversal candle pattern which can be bearish or bullish depending upon whether it appears at end of a market down trend or at the end of a market upwards trend.

Bullish & Bearish Engulfing Candle Sticks Setups - Candle Setups Guide with Examples Guide

Candlestick Patterns Tutorial - Candle Setups Tutorial PDF