XAUUSD Identify a Candle Pattern
How to Identify a Candle Pattern
Candle patterns have different formation that can be identified using the study of candlesticks from various online candlesticks patterns tutorials as well as candles Described trading guides.
Candlesticks Discussed
These Candlesticks Patterns Explained below will help you as a trader to learn how to identify these candlesticks patterns and learn how to trade with them.
Doji Candles Patterns
This is a candlesticks pattern with the same opening and closing price. There are various types of doji candlesticks pattern which form on charts.
following example show various patterns of the doji candle:
Long legged doji candlesticks pattern has long upper & lower shadows with the opening and closing price at the middle. When Long-legged doji appears on a chart it shows indecision between the traders, buyers & sellers.
Below is an example screenshot image of the Long Legged Doji trading candlestick pattern
Doji Pattern - Doji Candle Patterns
Doji Pattern
Marubozu Candlesticks Patterns
Marubozu candles pattern are long candlesticks that have no upper or lower shadows, Like shown and portrayed below.
Marubozu Candle-sticks - Marubozu Candlesticks Patterns
Marubozu candle-sticks pattern are continuing candlestick patterns that show gold price is going to continue in same direction as that of marubozu candlestick. The marubozu candlesticks pattern can be white/blue or black/red depending on the direction of the market trend.
Spinning Tops Candlesticks Patterns
Spinning tops candlesticks pattern have a small body with long upper & lower shadows. These spinning tops candlesticks are referred to by this term because these candlesticks formations are similar to spinning tops on a matchstick.
The upper and lower shadows of the spinning tops candle-sticks pattern are longer than the body. Xauusd examples shown below shows the spinning tops candlesticks pattern. You can look for the pattern on your MT4 Software charts. The example displayed below shows a screenshot to help traders when it comes to learning and understanding these trading candlesticks pattern.
How Do I Interpret Candle-stick Charts - Spinning Tops Candlesticks Patterns
Colour of the spinning tops candle candles pattern isn't very important, this formation show indecision between the buyers and sellers in Gold market. When these xauusd setups appear at the top of a market trend or at the bottom of market trend it might signify that the market trend is coming to an end and it might soon reverse & begin going in the other direction. However, it's best to wait for confirmation signals that the direction of a xauusd has reversed before trading the signal from the candlesticks pattern formation.
Hammer Candle Pattern & Hanging Man Candlestick Pattern Candle Patterns
Hammer Candlestick Pattern & Hanging Man Candlestick Pattern candlestick look alike but hammer is bullish trade reversal candlesticks pattern and hanging man is a bearish xauusd trading reversaltrading candlesticks pattern.
Hammer Candle Pattern and Hanging Man Candle Pattern - Candlesticks Patterns
Hammer Candles Patterns
Hammer candlesticks pattern is a potentially bullish candlestick pattern which occurs during a downward trend. It's named so because the market is hammering out a bottom.
Hanging Man Candles Patterns
This hanging man candlesticks pattern is a potentially bearish reversal signal which forms during a upwards trend. It's named so because it resembles a man hanging on a noose up high.
Hanging Man Candle Pattern - Candlesticks Patterns
Inverted Hammer Candles Patterns
This is a bullish xauusd reversal candlesticks pattern. It occurs at the bottom of a market trend.
Inverted hammer candlesticks pattern occurs at bottom of a downward trend & indicates the possibility of reversal of the downward trend.
Inverted Hammer Candle Pattern - Candlesticks Patterns
Shooting Star Candles Patterns
Shooting Star is a bearish xauusd reversal candlesticks pattern. It occurs at the top of a market trend.
Shooting Star candlesticks pattern occur at top of an up-ward trend in the XAUUSD market where the open price is same as the low & price then rallied upwards but was forced back downwards to close at near the open.
Shooting Star Candle - Candlesticks Patterns
Piercing Line Candles Patterns
Piercing line candle pattern is a long black body followed by a long white body candlestick.
White body pierces the midpoint of the prior black body.
This Piercing Line candlesticks pattern is a bullish xauusd reversal candlesticks pattern that occurs at the 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 candlesticks pattern highlights that momentum of the down-wards trend is reducing & the market trend is likely to reverse and move in an upward direction.
This Piercing Line candlesticks pattern is portrayed referred to as a piercing line signifying the market is piercing the bottom illustrating a market floor for price downward trend.
Piercing Line Candle Pattern - Candlesticks Patterns
Dark Cloud Cover Candle Sticks Patterns
Opposite of piercing candlestick candle.
This candle-stick 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 xauusd reversal pattern that forms at the top of an upwards trend.
Dark Cloud Cover candlesticks pattern highlights that the market opens higher and closes below the midpoint of the white body.
Dark Cloud Cover candlesticks pattern highlights that momentum of the upward trend is reducing and market trend is likely to reverse and move in a downwards trade direction.
Dark Cloud Cover candlesticks pattern is shown known as a cloud cover signifying the cloud as a ceiling for price up-wards trend.
Dark Cloud Cover Candle Pattern - Candlesticks Patterns
Morning Star Candle Patterns
Morning Star Candle Pattern - Candlesticks Patterns
Evening Star Candle Patterns
Opposite of the morning star trading candlesticks pattern
Evening Star Candle Pattern - Candlesticks Patterns
Candlesticks Patterns
Engulfing is a reversal candlesticks pattern that can be bearish or bullish depending upon whether it appears at end of a market downward trend or at the end of a market upwards trend.
Bullish and Bearish Engulfing Candle-sticks Patterns - Candlesticks Patterns
Candle-stick Patterns - Candle-stick Patterns Discussed
XAUUSD Identify a Candle Pattern
