Narrow Range Candles
by PRASHANT SHAH -
A candle’s range is the difference between its high and low price. A higher range indicates a strong trend or increased volatility during the session. Low range shows a lackluster price trend and a lack of momentum. Generally, this does not relate to candlestick patterns, but rather the range of candles is analyzed by participants ... Read more
Wide Range Candles
by PRASHANT SHAH -
W4 W4 stands for Wide Range 4. A W4 pattern is qualified if the candle’s range is the highest in the last 4 sessions. The difference between the high and low of the current session is the highest in the last four sessions. It shows that the trend is strong and momentum is in favor. ... Read more
Back-testing of candlestick patterns
by PRASHANT SHAH -
We have discussed various candlestick patterns. Many such patterns exist, and new patterns are continually being developed. People use it in different ways. There are many traders who perform subjective analysis, who observe patterns and make decisions based on their observations. Some traders use it in conjunction with other tools and indicators. Some traders create ... Read more
Three Black Crows
by PRASHANT SHAH -
Three Black Crows Category: Continuation & Pullback Type: Strong Three Black Crows is a three-candle bearish continuation pattern. The first candle of the pattern is a strong bearish candle. The open price of the next candle is within the body of the previous bearish candle. It closes lower than the previous candle low and turns ... Read more
Three Line Strike Pattern – Bullish
by PRASHANT SHAH -
Three Line Strike Pattern – Bullish Category: Reversal & Pullback Type: Strong Bullish Three Line strike is a four-candle bullish trend reversal candlestick pattern. Imagine there is a series of three bearish candlestick patterns in a row. It shows a strong downtrend and a bearish scenario. In the fourth candle, price opens within the body ... Read more
Three Line Strike Pattern – Bearish
by PRASHANT SHAH -
Three Line Strike Pattern – Bearish Category: Reversal & Pullback Type: Strong Bearish Three Line strike is a four-candle bearish trend reversal candlestick pattern. Imagine there is a series of three bullish candlestick patterns in a row. It shows a strong uptrend and a bullish scenario. In the fourth candle, price opens within the body ... Read more
