forex candlestick reversal patterns

Forex Candlestick Reversal PatternsThere are many Forex Candlestick patterns but

only a few of them, the reversals, are really worth knowing

Here's how to easily spot them and use them...

Open at or below the previous close

Close at or above the previous open

Close preferablynear the high

BearishCandle

DownTrend

1

2

Bullish Candle 4

3

5

6

Bullish Engulfing Candle

Expect Bullish Price action to follow...

Open at or above the previous close

Close at or below the previous open

Close preferablynear the low

BullishCandle

UpTrend

1

2

Bearish Candle 4

3

5

6

Bearish Engulfing Candle

Expect Bearish Price action to follow...

Long wick below

Small bodyClose, preferably, above the Open

Small wick above

BearishCandle

DownTrend

1

2

3

4

5

Bullish Pin Bar (aka a Hammer)

Expect Bullish Price action to follow...

Long wick above

Small bodyClose, preferably, below the Open

Small wick below

BullishCandle

UpTrend

1

2

4

3

5

Bearish Pin Bar (aka Shooting Star)

Expect Bearish Price action to follow...

Small body, preferably none,

Close = OpenBearishCandle

DownTrend

1

23

Bullish Doji

Expect Bullish Price action to follow...

BullishCandle

UpTrend

1

2 Small body, preferably none,

Close = Open3

Bearish Doji

Expect Bearish Price action to follow...

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Steve Nison is the undisputed “expert” onForex Candlestick Patterns

and those interested in further reading can do worse than purchase one or more of his books

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Forex Candlestick reversal patterns

Forex Candlestick Reversal Patterns