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 traders to trade the market and analyze the price movements.

These candlestick patterns have different gold interpretations and 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 theses candlesticks patterns when trading gold.

Candlesticks patterns are used by 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 trading set-ups.

Once one identifies a setup based on candlesticks patterns they will then analyze the candlestick and from the candlestick pattern analysis the traders will then decide which trade to open based on the signal by the candle-stick setup which's forming on the chart.

Different Candle Patterns

The How to Identify Candle Patterns - Types of Candle Patterns Guide

The List of candlesticks patterns used to trade XAUUSD - The top 10 most oftenly used candle-sticks patterns used to trade the online trading market.

Different Candle Patterns

Doji is a candlesticks setup with the same opening and closing price. There are various types of doji candlesticks set-up that form on charts.

following example explain different patterns of the doji candle:

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

Shown Below is example screen-shot image screenshot of the Long Legged Doji candlesticks setup

Doji Candle Pattern - Doji Candlestick Setups - Different Candle Setups

Doji Candle Pattern - Doji Candlestick Setups

Marubozu Candle Patterns

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

Marubozu Candlesticks - Marubozu Candlestick Setups - Different Candle Setups

Marubozu candle-sticks setup are continuing candle patterns which show price is going to continue in same direction as that of the marubozu candlestick. The marubozu candle-sticks 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 a small body with long upper & lower shadows. The spinning top candlesticks are referred to by this term because these candles formations are similar to spinning top on a match-stick.

The upper & lower shadows of the spinning top candlesticks set-up are longer than the body. Examples illustrated & described below portrays the spinning top candle-sticks setup. You can look for the pattern on your MT4 charts. Examples illustrated & described below portrays a image to help traders when it comes to learning & understanding these candle-sticks setup.

How to Trade Candlestick Charts - Spinning Tops Candle Setups - Different Candle Setups

Colour of the spinning top candlestick candlesticks setup is not very important, this formation shows indecision between buyers and sellers in market. When these chart patterns appear at the top of a trend or at the bottom of the trend it might signal that the trend is coming to an end and it may soon reverse & start going the opposite market direction. However, it is better to wait for confirmation signals that the direction of a market trend has reversed before taking the signal from the candle-sticks setup formation.

Hammer Candle Setup & Hanging Man Candlestick Pattern Candlestick Patterns

Hammer Candlestick Pattern & Hanging Man Candlestick Setup candles look alike but hammer is bullish reversal candlesticks pattern and hanging man is a bearish reversalxauusd candles pattern.

Hammer Candlestick Pattern and Hanging Man Candlestick Pattern - Candle Setups

Hammer Candlestick Patterns

Hammer candles set-up is a potentially bullish candle pattern that forms during a downwards trend. It is named so because the market is hammering a market bottom.

Hanging Man Candlestick Patterns

This hanging man candles setup is a potentially bearish reversal which happens during a upwards trend. It is named so because it looks like a man hanging on a noose up high.

Hanging Man Candle Pattern - Candle Setups

Inverted Hammer Candle Patterns

This is a bullish reversal candles setup. It occurs at the bottom of a trend.

Inverted hammer candles setup occurs at the bottom of a downward trend & indicates possibility of reversal of the downward trend.

Inverted Hammer Candlestick Pattern - Different Candle Setups

Shooting Star Candlestick Patterns

Shooting Star is a bearish reversal candlesticks setup. It forms at the top of a trend.

Shooting Star candle-sticks set-up form at the top of an upwards trend in the market where the open price is same as the low & price then rallied up but was pushed back downward to close near the open.

Shooting Star Candlestick - Candle Setups

Piercing Line Candlestick Patterns

Piercing line candlestick set-up is a long black body followed by a long white body candle.

The white body pierces the mid-point of the previous black body.

This Piercing Line candle-sticks set-up is a bullish reversal candles setup that forms at the bottom of a downward trend. It shows that the market opens lower & closes above the mid-point of the black body.

This Piercing Line candle-sticks setup displays that the momentum of the downwards trend is reducing & 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 signifying the market is piercing the bottom showing a market floor for the price downward trend.

Piercing Line Candlestick Pattern - Candle Setups

Dark Cloud Cover Candlestick Patterns

Opposite of piercing candle-stick candlestick.

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 that forms at the top of an upward trend.

Dark Cloud Cover candle-sticks setup displays that the market opens higher and closes below the mid-point of the white body.

Dark Cloud Cover candle-sticks setup displays that the momentum of the upward trend is reducing & trend is likely to reverse and move in a downwards trade direction.

Dark Cloud Cover candles setup is cited known as a cloud cover signifying the cloud as a ceiling for price upwards 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 candlesticks setup

Evening Star Candlestick Pattern - Candle Setups

Candlestick Patterns

Engulfing is a reversal candles 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 and Bearish Engulfing Candle Sticks 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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