There are many candlestick pattern that you can use in your trading, the reason they are so popular is because they illustrate a great deal of information.
They are clear to see patterns emerging and therefore they are fairly easy to use and interpret to what they represent or indicate. Here is a recap of the most common patterns used:
|
Name |
No. of candles |
Indicator |
|
Bearish Engulfing |
2 |
Bearish, Reversal |
|
Bullish Engulfing |
2 |
Bullish, Reversal |
|
Hammer |
1 |
Bullish, Reversal |
|
Inverted Hammer |
1 |
Bullish, Reversal |
|
Hanging Man |
1 |
Bearish, Reversal |
|
Doji |
1 |
Uncertainty, Indecision |
|
Gravestone Doji |
1 |
Bearish |
|
Morning Star |
3 |
Bullish, Reversal |
|
Evening Star |
3 |
Bearish, Reversal |
|
Shooting Star |
2 |
Bearish, Reversal |
|
Three Black Crows |
3 |
Bearish, Reversal |
|
Three White Soldiers |
3 |
Bullish, Reversal |
|
Dark Cloud Cover |
2 |
Bearish, Reversal |
|
Piercing line |
2 |
Bullish, Reversal |
|
Bullish Harami |
2 |
Bullish, Reversal |
|
Bearish Harami |
2 |
Bearish, Reversal |
|
Tweezer Top |
2 |
Bearish, Reversal |
|
Tweezer Bottom |
2 |
Bullish, Reversal |
|
Spinning Top |
2 |
Uncertainty, Indecision |
|
Maruboza white |
1 |
Bullish |
|
Maruboza Black |
1 |
Bearish |
|
Gap Up |
2 |
Bullish |
|
Gap Down |
2 |
Bearish |