How Many Types of Candles Patterns Are There?
How Many Types of Candle Setups are there?
The different candlestick patterns that are commonly used by Gold traders to trade the markets & analyze the price moves.
These candle patterns have different gold interpretations & each pattern will identify a different trade signal.
Beginner traders should learn and understand these different candlesticks patterns so that they will know how to interpret these candles patterns when trading gold.
Candlesticks patterns are used by Gold traders to predict the future price movement direction - based on the current candlestick setup which's forming on the chart. Traders use these candle patterns to identify set-ups.
Once one identifies a setup based on candlesticks patterns they'll then analyze and interpret the candle & from the candle pattern analysis the Gold traders will then decide which trade to open based on the trading signal by the candle-stick setup which's forming on the chart.
Different Candlestick Patterns
The How to Identify Candle Patterns - Types of Candlestick Patterns Lesson
The List of candlesticks patterns used to trade Gold - The top 10 most oftenly used candles patterns used to trade the online trading market.
Different Candlestick Patterns
Doji is a candlesticks setup with the same opening and closing price. There are various types of doji candlesticks setup that form on charts.
following example explain different patterns of the doji candle:
Long-legged doji candlesticks setup has long upper and lower shadows with opening and closing price at the middle. When Long legged doji appears on chart it indicates indecision between traders, the buyers(bulls) & the sellers(bears).
Shown Below is exemplification screen-shot image screen shot of the Long Legged Doji candlesticks setup
Doji Candlestick Pattern - Doji Candlestick Setups - Different Candlestick Setups
Doji Candlestick Pattern - Doji Candlestick Setups
Marubozu Candle Patterns
Marubozu candlesticks pattern are long candlesticks that have no upper or lower shadows, Like shown & displayed below.
Marubozu Candlesticks - Marubozu Candle Setups - Different Candlestick Setups
Marubozu candlesticks setup are continuing candle patterns which show price is going to continue in mving and heading in the direction same as that indicated by the marubozu candlestick. The marubozu candlesticks setup can be white or blue or black or red depending on the direction of the trend.
Spinning Tops Candlestick Patterns
Spinning tops candlesticks setup have small body with long upper and lower shadows. The spinning top candlesticks are known by this term/name because these candles formations and setups are similar to a spinning top on a match-stick.
The upper and lower shadows of the spinning top candlesticks setup are longer than the body. Examples illustrated and shown & described below portrays the spinning top candle-sticks setup. You can look for the pattern on your MT4 charts. Examples illustrated and shown & described below portrays a image to help the Gold traders when it comes to learning & understanding these candle-sticks setup.
How to Trade Candle Charts - Spinning Tops Candle Setups - Different Candlestick Setups
Colour of the spinning top candlestick candlesticks setup isn't very important, this setup demonstrates and shows indecision between buyers & sellers in market. When these chart patterns appear at the top of a market trend or at the bottom of the trend it might signal that the trend is coming to an end & it may soon reverse and start going the in the opposite market direction. However, it's better to wait for additional confirmation trading signals that the direction of a market has turned and reversed before taking the trading signal from the candle-sticks setup.
Hammer Candlestick Setup and Hanging Man Candle Pattern Candlestick Patterns
Hammer Candle Pattern and Hanging Man Candle Setup candles look alike and similar but hammer is bullish reversal candlesticks pattern & hanging man is a bearish reversalxauusd candlesticks pattern.
Hammer Candle Pattern & Hanging Man Candle Pattern - Candle Setups
Hammer Candlestick Patterns
Hammer candles setup is a potentially bullish candlestick pattern that forms during a downward trend. It's named and called so because the market is hammering a market bottom.
Hanging Man Candle Patterns
This hanging man candlesticks setup is a potentially bearish reversal that happens during a upwards trend. It's named & called so because it looks like a man hanging and dangling on a noose up high.
Hanging Man Candle Pattern - Candle Setups
Inverted Hammer Candle Patterns
This is a bullish reversal candlesticks setup. It occurs at the bottom of a market trend.
Inverted hammer candles setup occurs at the bottom of a downward trend & reflects possibility of reversal of the downwards trend.
Inverted Hammer Candle Pattern - Different Candlestick Setups
Shooting Star Candle Patterns
Shooting Star Candle is a bearish reversal candlesticks setup. It forms at the top of a market trend.
Shooting Star candle-sticks set-up form at the top of an upwards trend in the market where the opening price is same as the low and price then rallied up but was pushed and forced back downwards to close near the open.
Shooting Star Candlestick - Candle Setups
Piercing Line Candle Patterns
Piercing line candlestick setup is a long black body followed by long white body candlestick.
The white body pierces the mid-point of the previous black body.
This Piercing Line candle-sticks setup is a bullish reversal candlesticks setup which forms at the bottom of a downward trend. It shows the market opens lower and closes above the mid-point of the black body.
This Piercing Line candle-sticks setup shows that the force of the downward trend is reducing/decreasing & the trend is likely to reverse and move in an upwards direction.
This Piercing Line candle-sticks setup is cited referred to as a piercing line signaling that the market is piercing the bottom showing a market floor for the price downwards trend.
Piercing Line Candle Pattern - Candle Setups
Dark Cloud Cover Candle Patterns
Opposite of piercing candlestick.
This candlestick 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 that forms at the top of an upwards trend.
Dark Cloud Cover candle-sticks setup shows the market opens higher and closes below the mid-point of the white body.
Dark Cloud Cover candle-sticks setup shows that the force of the upwards trend is reducing/decreasing & trend is likely to reverse and move in a downwards trade direction.
Dark Cloud Cover candles setup is cited known as a cloud cover signaling the cloud as a ceiling for the price upward trend.
Dark Cloud Candlestick Pattern - Candle Setups
Morning Star Candle Setups
Morning Star Candle Setup - Candle Setups
Evening Star Candlestick Patterns
Opposite of morning star candles setup
Evening Star Candlestick Pattern - Candle Setups
Candlestick Patterns
Engulfing is a reversal candlesticks setup which can be bearish or bullish depending upon whether it appears at end of a downwards trend or at the end of a market upwards trend.
Bullish & Bearish Engulfing Candlestick Setups - Candle Setups
How Many Types of Candles Are There? - What are the Candles Patterns that Traders Should Know? - How to Identify Candle Setups - How Many Types of Candle Setups are there? - Different Candle Sticks Setups - Different Candle Setups
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