How Many Types of Candles Are There? - How to Identify Candle Patterns
How Many Types of Candlestick Patterns are there? - Different Forex Candles
The different forex candlestick patterns that are commonly used by traders to trade the market and analyze the price movements.
These forex candlestick patterns have different forex interpretations and each forex pattern will identify a different forex signal.
Beginner traders should learn and understand these different forex candlesticks patterns so that they will know how to interpret theses forex candlesticks patterns when trading forex.
Candlesticks patterns are used by traders to predict the future price movement direction - based on the current forex candle-stick pattern that's forming on the chart. Traders use these forex candlestick patterns to identify forex setups.
Once one identifies a forex setup based on forex candlesticks patterns they will then analyze the candlestick and from the candlestick pattern analysis the traders will then decide which forex trade to open based on the trading signal by the candle-stick pattern that's forming on the chart.
Different Forex Candle Patterns
The How to Identify Candlestick Patterns - Types of Candlestick Patterns Discussed
The List of candles patterns used to trade Forex - The top 10 most often used candles patterns used to trade the online forex market.
Doji Candle Patterns - Different Forex Candle Patterns
Doji is a forex candles pattern with same opening & closing price. There are various types of doji candlesticks pattern that form on Forex charts.
The following examples explain various patterns of the doji candle:
Long-legged doji candlesticks pattern has long upper and lower shadows with opening and closing price at the middle. When Long legged doji appears on Forex chart it demonstrates indecision between forex traders, the buyers and the sellers.
Shown Below is example screen-shot image of the Long Legged Doji candlesticks pattern
Doji Candlestick Pattern - Doji Candle Patterns
Doji Candle Pattern - Doji Candlestick Patterns
Marubozu Candle-stick Patterns - Different Forex Candle Patterns
Marubozu forex candle-sticks pattern are long candlesticks which have no upper or lower shadows, Like the trading examples shown below.
Marubozu Candle-sticks - Marubozu Candle-stick Patterns - Different Forex Candle Patterns
Marubozu forex candlesticks pattern are continuing forex candlestick patterns which show price is going to continue in same direction as that of the marubozu candlestick. The marubozu candlesticks pattern can be white or blue or black or red depending on the direction of the trend.
Spinning Top Candlesticks Forex Patterns - Different Forex Candle Patterns
Spinning tops forex candles pattern have a small body with long upper and lower shadows. The spinning top candles are referred to by this term because these candlesticks formations are similar to spinning top on a matchstick.
The upper & lower shadows of the spinning top candlesticks pattern are longer than the body. The example below shows the spinning top candles pattern. You can look for pattern on your MetaTrader 4 Platform forex charts. The example below shows a screen-shot to help traders when it comes to learning & understanding these forex candles pattern.
How to Trade Forex Candlestick Charts - Spinning Tops Candlestick Patterns - Different Forex Candle Patterns
The colour of spinning top candle candlesticks pattern is not important, this formation shows indecision between buyers and the sellers in the market. When these forex chart patterns appear at the top of a forex trend or at the bottom of trend it may signify that the trend is coming to an end & it may soon reverse & start moving the opposite direction. However, it is better to wait for confirmation signals that direction of a currency has reversed before taking the signal from the candle-sticks pattern formation.
Hammer Candle Pattern and Hanging Man Candle-stick Pattern Forex Candle Patterns
Hammer Candlestick Pattern & Hanging Man Candle-stick Pattern candlesticks look alike but hammer is bullish reversal candlesticks pattern and hanging man is a bearish reversal trading candlesticks pattern.
Hammer Candle Pattern and Hanging Man Candlestick Pattern Candlesticks - Different Forex Candle Patterns
Hammer Candle-stick Patterns - Different Forex Candle Patterns
Hammer forex candlesticks pattern is a potentially bullish forex candle pattern which forms during a forex downward trend. It is named so because the market is hammering out a bottom.
Hanging Man Candle-stick Patterns - Different Forex Candle Patterns
This hanging man candle-sticks pattern is a potentially bearish forex reversal signal which happens during a forex uptrend. It is named so because it resembles a man hanging on a noose up high.
Hanging Man Candle-stick Pattern - Different Forex Candle Patterns
Inverted Hammer Candle Patterns - Different Forex Candle Patterns
This is a bullish reversal candlesticks pattern. It forms at the bottoms of a Forex trend.
Inverted hammer candlesticks pattern occurs at the bottom of a forex downwards trend & indicates the possibility of a reversal of the downward Forex trend.
Inverted Hammer Candle Pattern - Candle Patterns - Different Forex Candle Patterns
Shooting Star Candle Forex Patterns - Different Candlestick Forex Patterns
Shooting Star is a bearish reversal candle-sticks pattern. It forms at the top of a forex trend.
Shooting Star forex candle-sticks pattern occur at the top of an uptrend in the market where the open price is the same as the low & price then rallied upward but was forced back downward to close the open.
Shooting Star Candle - Different Forex Candle Patterns
Piercing Line Forex Candle Patterns - Candlesticks Forex Patterns
Piercing line candle-stick pattern is a long black body followed by a long white body candlestick.
The white body pierces the mid point of previous black body.
This Piercing Line forex candle-sticks pattern is a bullish reversal candlesticks pattern that occurs at the bottom of a forex downward trend. It shows that the market opens lower and closes above the midpoint of the black body.
This Piercing Line forex candles pattern highlights that the momentum of the downward trend is reducing and trend is likely to reverse and move in an upward direction.
This Piercing Line forex candle-sticks pattern is shown known as a piercing line signifying the market is piercing the bottom illustrating a market floor for the currency price downward trend.
Piercing Line Candlestick Pattern - Different Forex Candle Patterns
Dark Cloud Cover Candle Patterns
Opposite of piercing candle Forex candlestick.
This candle-stick is a long white body followed by a long black body.
The black body pierces the midpoint of the prior white body.
This is a bearish reversal pattern which forms at the tops of an uptrend.
Dark Cloud Cover forex candle-sticks pattern highlights that market opens higher and closes below the midpoint of the white body.
Dark Cloud Cover forex candle-sticks pattern highlights that the momentum of the uptrend is reducing and the trend is likely to reverse & move in a down-wards forex trade direction.
Dark Cloud Cover forex candlesticks pattern is illustrated known as a cloud cover signifying the cloud as a ceiling for the currency price upward trend.
Dark Cloud Cover Candle Pattern - Candle Patterns Discussed
Morning Star Candle-stick Patterns - Different Forex Candle Patterns
Morning Star Candle Pattern - Different Forex Candle Patterns
Evening Star Candle-stick Patterns - Candle Patterns
Opposite of morning star candlesticks pattern
Evening Star Candle Pattern - Candle Sticks Patterns - Different Forex Candle Patterns
Engulfing Candlesticks Patterns - Different Forex Candle Patterns
Engulfing is a reversal candlesticks pattern which can be bearish or bullish depending upon whether it appears at end of a forex downwards trend or at the end of a forex market uptrend.
Bullish and Bearish Engulfing Candlesticks Patterns - Different Forex Candle Patterns
How Many Types of Candles Are There? - What are the Candles Patterns that Traders Should Know? - How to Identify Candlestick Patterns - How Many Types of Candlestick Patterns are there? - Different Forex Candle Sticks Patterns - Different Forex Candle Patterns
