Single Candlestick patterns
by PRASHANT SHAH -
Single Candlestick pattern Even a single candle has a lot of useful information from the analysis perspective. We discussed that a candle consists of Open, High, Low, and closing price of the session. It gives us all important information regarding a particular session. We can’t get to know whether High appeared first or Low by ... Read more
Doji & Types of Doji
by PRASHANT SHAH -
Doji Category: Reversal & Continuation Doji is a single candlestick pattern which has ‘No body’, only shadows. Having no body in the candle would mean that there is no difference between the Open and the Close price. Hence, only a line is plotted in the candle instead of the body. The line appears at the ... Read more
Hammer & Hanging man Pattern
by PRASHANT SHAH -
Hammer & Hanging man Pattern Category: Reversal Type: Weak Hammer or Hanging man are a single candlestick pattern with no or a very little upper shadow. The pattern looks like the Hammer, hence the name. The major feature of this pattern is the long lower shadow. Longer the lower shadow, stronger the pattern. To quantify, ... Read more
Inverted Hammer & Shooting Star Pattern
by PRASHANT SHAH -
Inverted Hammer & Shooting Star Pattern Category: Reversal Type: Weak This pattern is opposite of Hammer pattern. It is a single candle pattern with no or a very little lower shadow. The major feature of this pattern is the long upper shadow. Longer the upper shadow, stronger the pattern. Like Hammer pattern, the upper shadow ... Read more
Belt hold line
by PRASHANT SHAH -
Belt hold line Category: Continuation, Reversal & Pullback Type: Strong A bullish belt-hold line is strong bullish candlestick pattern which opens at the low of the session and closes at high of the session. So, there is only body in this candle, no shadow. It shows the strong trend. Practically, there can be small shadows ... Read more
