Pragati Rawatkar, Author at IFMC Institute

40 Essential Candlestick Patterns Every Trader Should Know

August 30, 2024 No Comments

Candlestick patterns are the bread and butter of technical analysis, giving you visual clues into market sentiment and price action. This guide covers 40 patterns including the Doji, Hammer, Shooting Star, Morning and Evening Stars, Engulfing patterns and many more bullish and bearish indicators. Each pattern gives you information about market dynamics so you can identify reversals, continuations and entry or exit points. Master these patterns and combine with other technical indicators and volume analysis and you’ll improve your decision making and trading strategies. Whether you’re a new or experienced trader you need to know these patterns to navigate the complex world of financial markets and improve your trading.

What is a Candlestick Pattern: The Ultimate Guide to Candlestick Patterns

August 30, 2024 No Comments

Candlestick patterns are visual in trading to show price movement over time, so you can understand the market. Each candlestick has three parts: the body, upper wick, and lower wick which represent different price points and reflect market sentiment. To read candlestick patterns look for shapes and colors to predict future price action as explained in the “How to Read Candlestick Patterns” section. Different markets can have different candlestick behaviour so make sure you know where you are trading. Get to know common candlestick patterns like Dojis and hammers as they can be a sign of a reversal. Use candlestick patterns as part of your overall trading strategy for better decisions and more success.