forex candlestick reversal patterns
TRANSCRIPT
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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...
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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...
![Page 3: Forex Candlestick Reversal Patterns](https://reader036.vdocument.in/reader036/viewer/2022082412/587322841a28ab673e8b7c4b/html5/thumbnails/3.jpg)
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...
![Page 4: Forex Candlestick Reversal Patterns](https://reader036.vdocument.in/reader036/viewer/2022082412/587322841a28ab673e8b7c4b/html5/thumbnails/4.jpg)
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...
![Page 5: Forex Candlestick Reversal Patterns](https://reader036.vdocument.in/reader036/viewer/2022082412/587322841a28ab673e8b7c4b/html5/thumbnails/5.jpg)
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...
![Page 6: Forex Candlestick Reversal Patterns](https://reader036.vdocument.in/reader036/viewer/2022082412/587322841a28ab673e8b7c4b/html5/thumbnails/6.jpg)
Small body, preferably none,
Close = OpenBearishCandle
DownTrend
1
23
Bullish Doji
Expect Bullish Price action to follow...
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BullishCandle
UpTrend
1
2 Small body, preferably none,
Close = Open3
Bearish Doji
Expect Bearish Price action to follow...
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Produced by
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
The PAST MT4 Indicator available at Forex Useful automatically identifies many key
Forex Candlestick reversal patterns
Forex Candlestick Reversal Patterns