Forex Candles - Candlestick Patterns for Day Trading
Drawing Forex Candlesticks on MT4 - Candles Patterns Guide for Day Trading
To draw these forex candlesticks on the MetaTrader 4, choose the charts plotting tools within the "MetaTrader 4 Toolbar" - shown below.
To view this tool-bar on MT4 go to "View" Next to file at the top left corner of MetaTrader 4 Platform, Click "View", Then Click "Tool bars", Then check the "Charts" Button. The above tool bar will appear.
Once the above toolbar, appears you can then select the type you want to convert to, If you want to trade using the bar charts, click the bar tool button as shown above, for line charts click the line tool button, for Japanese candlesticks patterns format click the "candlesticks charts tool button".
Forex Candles - Candlestick Guide
Doji Forex Candles - Candlestick Guide
This is a forex candle pattern with the same opening and closing price. There are various types of doji candles pattern which form on Forex charts.
following examples explain various patterns of the doji candle-stick:
Long-legged doji candle stick pattern has long upper & lower shadows with opening & closing price at the middle. When Long-legged doji appears on a Forex chart it indicates indecision between currency traders, buyers & the sellers.
Shown Below is example screen-shot image of the Long Legged Doji Forex candle sticks pattern
Doji Chart Pattern - Doji Forex Candles - Candlestick Guide
Doji Chart Pattern - Doji Forex Candles - Candlestick Guide
Marubozu Forex Candles - Candlestick Guide
Marubozu forex candlestick pattern are long candlesticks that have no upper or lower shadows, Like the forex trading examples shown below.
Marubozu Candles - Candlestick Guide
Marubozu forex candlestick pattern are continuing forex candlestick patterns that show price is going to continue in same direction as that of the marubozu candle stick. The marubozu candlesticks pattern can be white/blue or Black/red depending on direction of the trend.
Spinning Tops Candlesticks Forex Candles - Candlestick Guide
Spinning tops forex candlestick pattern have a small body with long upper and lower shadows. These spinning tops candles patterns are referred to by this name because these candlesticks arrangements are similar to spinning top on a match-stick.
The upper and lower shadows of the spinning tops forex candles pattern are longer than the body. The example below shows the spinning top candle pattern. You can look for pattern on your MetaTrader 4 Platform forex charts. The example below shows a screenshot to help traders when it comes to learning and understanding these forex candlestick pattern.
How to Read Forex Candlestick Charts - Spinning Tops Forex Candles - Candlestick Guide
Color of the spinning top candlestick forex candle-sticks pattern is not very important, this formation explain the indecision between the buyers & sellers in the FX market. When these forex chart patterns appear at the top of a forex trend or at the bottom of the forex trend it might signify that the forex trend is coming to an end and it might soon reverse and start going the other direction. However, it is better to wait for confirmation trading signals that the direction of a currency has reversed before trading the signal from this forex candle pattern formation.
Hammer Candlestick Pattern and Hanging Man Candles - Candles Tutorial
Hammer Candle Pattern & Hanging Man Candle Pattern candles look alike but hammer is bullish reversal forex candle pattern and hanging man is a bearish reversal forex candlestick pattern.
Hammer Candle Pattern and Hanging Man Candlestick Pattern Candles - Forex Candlesticks Trading Patterns - Candlestick Guide
Hammer Forex Candles - Candlestick Guide
Hammer forex candlestick pattern is a potentially bullish forex candle pattern that forms during a forex downtrend. It is named so because the market is hammering out a market bottoms.
Hanging Man Forex Candles - Candlestick Guide
This hanging man candlestick pattern is a potentially bearish forex reversal signal which forms during a forex uptrend. It is named so because it resembles a man hanging on a noose up high.
Hanging Man Candlestick Pattern - Forex Candles - Candlestick Guide
Inverted Hammer Forex Candles - Candlestick Guide
This is a bullish reversal candle pattern. It forms at the bottoms of a Forex trend.
Inverted hammer candle pattern occurs at the bottom of a downtrend and indicates the possibility of reversal of the downward Forex trend.
Inverted Hammer Candlestick Pattern - Forex Candles - Candlestick Guide
Shooting Star Forex Candles - Candlestick Guide
Shooting Star is a bearish reversal candlestick pattern. It forms at the top of a forex market trend.
Shooting Star forex candle pattern occur at the top of an uptrend in the forex market where the open price is same as the low & price then rallied up but was pushed back down to close near the open.
Shooting Star Candle-Stick - Forex Candles - Candlestick Guide
Piercing Line Forex Candles - Candlestick Guide
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 forex candle pattern is a bullish reversal candle pattern that occurs at the bottom of a market downtrend. It shows that the market opens lower & closes above the midpoint of the black body.
This Piercing Line forex candle pattern shows that the momentum of the downtrend is reducing and the market trend is likely to reverse & move in an upwards direction.
This Piercing Line forex candlestick pattern is displayed known as a piercing line signifying the market is piercing the bottom showing a market floor for the currency price downwards forex trend.
Piercing Line Candle Pattern - Forex Candles - Candlestick Guide
Dark Cloud Cover Forex Candles - Candlestick Guide
Opposite of piercing candle forex trading candlestick.
This candlestick is a long white body followed by a long black body.
The black body pierces the mid point of the prior white body.
This is a bearish reversal pattern which forms at the tops of an uptrend.
Dark Cloud cover forex candlestick pattern that the market opens higher & closes below the midpoint of the white body.
Dark Cloud cover forex candle pattern shows that the momentum of the uptrend is reducing and the market trend is likely to reverse and move in a downwards forex trading direction.
Dark Cloud cover forex candlestick pattern is shown known as a cloud cover signifying the cloud as a ceiling for currency price upward forex trend.
Dark Cloud Cover Candle Pattern - Forex Candles Tutorial
Morning Star Forex Candles - Candlestick Guide
Morning Star Candle Pattern - Forex Candles - Candlestick Guide
Evening Star Forex Candles - Candlestick Guide
Opposite of morning star candles pattern
Evening Star Candle Pattern - Candlesticks Forex Patterns - Candlestick Guide
Engulfing Candles Patterns - Forex Candles - Candlestick Guide
Engulfing is a reversal candle stick pattern which can be bearish or bullish depending upon whether it appears at the end of a forex market downtrend or at the end of a forex market uptrend.
Bullish and Bearish Engulfing Candlesticks Patterns - Forex Candlesticks Trading Patterns - Candlestick Guide
Drawing Forex Candlesticks on MT4 - Candles Patterns Guide for Day Trading
