In part 1 of basic candlestick patterns Blackmantrader has introduced to you some basic candlestick patterns, in part 2 today, Blackmantrader will continue to introduce to you 4 more basic candlestick patterns to help you have more knowledge to be able to confidently trade any market
BASIC CANDLESTICK PATTERN: BULLISH CANDLESTICK SHORT RISE
Describe:
The candlestick body is short, the closing price is higher than the opening price
Price action:
Buying pressure is weak, price volatility is limited.
Advice:
Bullish candlesticks when standing alone hardly give any significance to note. The market is only maintaining the current trend. There is no notable news or upheaval at this time.
BASIC CANDLESTICK PATTERN: SHORT BEARISH CANDLESTICK
Describe
The candlestick body is short, the closing price is lower than the opening price
Price action
Selling pressure is weak, price volatility is limited
Advice:
A short bearish candlestick when standing alone hardly gives any significance to note. The market is just maintaining the current trend. There is no news or upheaval in the spotlight at this time.
BASIC CANDLESTICK PATTERN: GYROSCOPE BULLISH CANDLESTICK
Describe:
The body of the candlestick is very small compared to the shadow, the closing price is higher than the opening price
Price action:
The upper and lower shadows are both much longer than the body, indicating the hesitation of both sides
Advice:
Signals a decline or disruption in the price trend
BASIC CANDLESTICK PATTERN: GYROSCOPE BEARISH CANDLESTICK
Describe:
The body of the candlestick is very small compared to the shadow, the closing price is lower than the opening price
Price action:
The upper and lower shadows are both much longer than the body, indicating the hesitation of both sides
Advice:
Signals a decline or disruption in the price trend
