forex candlestick patterns cheat sheet pdf

This means that the current price trend is becoming exhausted and it is likely to be reversed.

Every Doji candlestick symbolizes the equalization of the bearish and the bullish forces. The Doji candle family consists of single candle formations where the price action opens and closes at the same price.

Let’s now explain each of these with examples. Notice that I have separated these into “families” or into their bullish and bearish versions since they refer to the same thing but upside down. So, you should not be surprised that the best 5 candlestick patterns for day trading are reversal patterns.ĥ of the most profitable Forex candlestick indicators are: Candlestick Cheat Sheet with 5 Patterns Explained In comparison with continuation candle patterns, the reversal candle pattern indicators represent the majority of the candle patterns you will meet on the Japanese candlestick charts. The reversal Forex candle patterns are the ones that come after a price move and have the potential to reverse the price action. In comparison, reversal candlestick patterns dominate the Forex charts. The reason for this is that there are not many of them. The truth is that continuation candle patterns are not very popular in Forex trading. Continuation Forex Candle PatternsĬontinuation Forex candle patterns are the ones that come after a price move and have the potential to continue the price action in the same direction. Let’s now briefly go through each of them. There are two types of Forex candlestick patterns for day trading – continuation and reversal candle patterns. Types of Candlestick Patterns for Day Trading

Forex candlestick patterns cheat sheet pdf