Candlestick charts explained
Posted in Bearish reversals
Bearish belt hold is a single bearish reversal pattern, appearing in an uptrend. In this pattern, the day opens at its high level, but then price falls and closes near its low, not necessarily at the lows of the day. The candle is a black opening marubozu. It has very…
Posted in Bearish reversals
Explaining the bearish kicking candlestick Bearish kicking is a two-candle reversal pattern. There are some criteria to identify this candlestick pattern. The first formation is a white candlestick, a marubozu. It is followed by a black candlestick, a black marubozu, which opens gapping lower than the previous day’s low. The decline…
Posted in Bearish reversals
What is an evening doji star? A three-day bearish reversal pattern that is similar to the evening star. The uptrend continues with a large white body. The next day opens higher, trades in a small range, then it closes at its open (doji). The doji shows the uncertainty on the…
Posted in Bearish reversals
Explaining bearish abandoned baby This chart pattern equals to the bullish abandoned baby in all parameters, but has an opposite meaning. The bearish abandoned baby occurs at the end of increasing trends. Following a long white candlestick, the rate usually opens with a gap and a doji appears. On the…
Posted in Bullish reversals
Explaining bullish abandoned baby The bullish abandoned baby occurs at the end of descending trends. Following a long black candlestick, the rate usually opens with a gap and a doji appears. On the third day the rate starts with a gap again. Due to the constant upheaval during the day…