Must-Know Candlestick Patterns for Every Trader
📍 Morning Star
This is a three-candle pattern. The first is a strong bearish candle following a downtrend. The second candle opens below the previous close, with a small body and long wicks — showing indecision in the market. The third is a strong bullish candle, equal to or longer than the first one, indicating the start of a new uptrend.
📍 Doji Candle
The Doji represents a possible reversal, either upward or downward. It has long wicks and almost equal open and close prices. While not a very strong signal alone, it reflects market uncertainty and can suggest an upcoming change in trend.
📍 Hammer Candle
A simple yet powerful bullish reversal pattern that appears at the end of a downtrend. It has a small body and a long lower wick like a hammer, showing price rejection and signalling a potential upward move. It can also appear in uptrends, though with less reliability.
If you want to trade better and grow into a confident, professional trader, understanding these patterns can really help. When they show up, the market could be ready to reverse — so keep an eye out to manage your trades or enter at better levels.
Hope you find this knowledge useful!
#ForexIndia #CandlestickPatterns #TechnicalAnalysisIndia #PriceActionTrading #MorningStarPattern #DojiCandle #HammerCandle #IndianTraders #LearnTrading #NiftyTraders #SmartTradingMoves
📍 Morning Star
This is a three-candle pattern. The first is a strong bearish candle following a downtrend. The second candle opens below the previous close, with a small body and long wicks — showing indecision in the market. The third is a strong bullish candle, equal to or longer than the first one, indicating the start of a new uptrend.
📍 Doji Candle
The Doji represents a possible reversal, either upward or downward. It has long wicks and almost equal open and close prices. While not a very strong signal alone, it reflects market uncertainty and can suggest an upcoming change in trend.
📍 Hammer Candle
A simple yet powerful bullish reversal pattern that appears at the end of a downtrend. It has a small body and a long lower wick like a hammer, showing price rejection and signalling a potential upward move. It can also appear in uptrends, though with less reliability.
If you want to trade better and grow into a confident, professional trader, understanding these patterns can really help. When they show up, the market could be ready to reverse — so keep an eye out to manage your trades or enter at better levels.
Hope you find this knowledge useful!
#ForexIndia #CandlestickPatterns #TechnicalAnalysisIndia #PriceActionTrading #MorningStarPattern #DojiCandle #HammerCandle #IndianTraders #LearnTrading #NiftyTraders #SmartTradingMoves
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.