Candle-sticks Setup Patterns

Candle patterns have different formation which can be identified using the study of candlesticks from various online candlesticks patterns PDF tutorials as well as candles Described trading guides.

Candle-sticks Discussed

These Candles Patterns Described below will help you as a trader to learn how to identify these candlesticks patterns & learn how to trade with them.

Doji Candles Setup Patterns

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

following example show various patterns of the doji candle:

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

Below is an example snapshot of Long Legged Doji gold candlesticks pattern setup

Doji Pattern - Doji Candles Setup Patterns

Doji Pattern

Marubozu Candles Setup Patterns

Marubozu candlesticks pattern setup are long candlesticks that have no upper or lower shadows, Like illustrated and shown below.

Marubozu Candlesticks - Marubozu Candle Setup Patterns

Marubozu candlesticks pattern setup are continuing candlestick setups which show gold price is going to continue in the same direction as that of marubozu candle. The marubozu candlesticks pattern setup can be white/blue or black/red depending on the direction of the trend.

Spinning Tops Candles Candle Setup Patterns

Spinning tops candlesticks pattern setup have a small body with long upper and lower shadows. The spinning tops candlesticks setups are referred to by this name because these candlesticks formations are similar to spinning tops on a match stick.

The upper & lower shadows of the spinning tops candlesticks pattern setup are longer than the body. Example illustrated & shown below shows the spinning tops candlesticks pattern. You can look for the pattern in your MT4 charts. Example illustrated and shown below shows a screenshot to help traders when it comes to learning & understanding these candlesticks pattern setup.

How to Read Candlestick Charts - Spinning Tops Candles Setup Patterns

Color of the spinning tops candle candlesticks pattern setup isn't very important, this pattern show the indecision between the buyers and the sellers in the market. When these setups appear at the top of a market trend or at the bottom of the market trend it may signify that the market trend is coming to an end and it may soon reverse and start going in the other direction. However, it is best to wait for confirmation signals that the direction of a market trend has reversed before trading the signal from the candlesticks pattern setup formation.

Hammer Candle Pattern & Hanging Man Candle Pattern

Hammer ++3Candle Pattern ++3& Hanging Man ++3Candle Pattern ++3candlesticks look alike but hammer is bullish reversal ++1candlesticks pattern setup ++1& hanging man is a bearish reversalcandlesticks pattern setup.

Hammer Candle Pattern and Hanging Man Candle Pattern - Candle Setup Patterns

Hammer Candle Setup Patterns

Hammer candlesticks pattern setup is a potentially bullish candlestick pattern which occurs during a downwards trend. It's named so because the market is hammering out a bottom.

Hanging Man Candle Setup Patterns

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

Hanging Man Candle Pattern - Candle Setup Patterns

Inverted Hammer Candle Setup Patterns

This is a bullish reversal candlesticks pattern setup. It forms at the bottom of a market trend.

Inverted hammer candlesticks pattern setup forms at the bottom of a down trend & indicates the possibility of a reversal of the downwards trend.

Inverted Hammer Candle Pattern - Candle Setup Patterns

Shooting Star Candle Setup Patterns

Shooting Star is a bearish reversal candlesticks pattern setup. It occurs at the top of a xauusd trend.

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

Shooting Star Candle - Candle Setup Patterns

Piercing Line Candle Setup Patterns

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

White body pierces the midpoint of the prior black body.

This Piercing Line candlesticks pattern setup is a bullish reversal candlesticks pattern setup that occurs at the bottom of a market downward trend. It shows that the market opens lower & closes above the midpoint of the black body.

This Piercing Line ++3candlesticks pattern setup highlights that momentum of the down trend is reducing ++1and the market trend is likely to reverse ++3& move in an ++3++up-wardsup-ward direction.

This Piercing Line candlesticks pattern is displayed known as a piercing line signifying the market is piercing the bottom illustrating a market floor for price downwards trend.

Piercing Line Candle Pattern - Candle Setup Patterns

Dark Cloud Cover Candle Setup Patterns

Opposite of piercing candlestick candle.

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

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

This is a bearish reversal pattern setup that forms at the top of an up-wards trend.

Dark Cloud Cover candlesticks pattern setup highlights that the market opens higher & closes below the midpoint of the white body.

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

Dark Cloud Cover candlesticks pattern setup is shown referred to as a cloud cover signifying the cloud as a ceiling for the price up-wards trend.

Dark Cloud Cover Candle Pattern - Candle Setup Patterns

Morning Star Candle Setup Patterns

Morning Star Candle Pattern - Candle Setup Patterns

Evening Star Candle Setup Patterns

Opposite of morning star candlesticks pattern setup

Evening Star Candle Pattern - Candle Setup Patterns

XAUUSD Candle Setup Patterns

Engulfing is a reversal candle-sticks pattern setup which can be bearish or bullish depending upon whether it highlights up at the end of a market downward trend or at the end of a gold market upwards trend.

Bullish & Bearish Engulfing Candle-sticks Setup Patterns - Candle Setup Patterns

Candle Patterns PDF - Candlestick Patterns Explained