Ultimate Candlestick Cheat Sheet For CryptoHello, traders!
Here is the cheat sheet for the candlestick patterns. They are divided into five groups:
-Bullish Reversal
-Bullish Trend Continuation
-Bearish Reversal
-Bearish Trend Continuation
-Neutral
All these common formations you can see on the chart but first of all you should understand what has happened on the market. When you are looking at the candle a lot of useful information can be received.
For example if the candle have the long wick to the downside and short body (hammer), it means a huge bullish pressure and this is a reversal to the uptrend sign.
When you have three stars in the South formation it is can be noticed that the wicks to the downside are long and bodies became shorter. It means the weakness of the downtrend and also the sign of the potential reverse.
If the candle have a very small body (doji) this indicates that the market is in indefinite situation. Bulls and bears war did not lead to price changes and future price direction is unknown.
Do you use the candlestick patterns? Please write your comment and give us a support with like if you like such cheat sheets!
DISCLAMER: Information is provided only for educational purposes. Do your own study before taking any actions or decisions.
