Candlestick Charts for Beginners Part 1. How to read Candlestick Patterns.
Introduction to candlestick charts. Basic knowledge for beginners. Trend reversal signs in candlestick charts. How to interpret a candlestick chart? This video explains most powerful candlestick patterns. Spinning top, hammer, hanging man, inverted hammer and shooting star. #candlestick
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Candlestick charts can be used for any market in any time frame.
Size and shape of a candlestick can tell you how market is acting.
If a candlestick has a long upper shadow and long lower shadow with small body at the center, it is called a spinning top.
Candle sticks have long lower shadows and small bodies with Little or no upper shadow are called Hammer or Hanging man depend on where they occur.
Inverted Hammer is a candlestick that is similar to Hammer pattern but is inverted. Just like Hammer, if this pattern appears at the bottom of a downtrend or during a downtrend, it is a sign of a potential bullish reversal.
Another candlestick which looks like an inverted hammer is shooting star.
Bullish candlesticks are
Hammer and Inverted hammer
Bearish candlesticks are
Hanging man and shooting star.
Indecisive pattern is spinning top.