Have a query here. Clicked on your link, put details in, didnt receive anything. The Ultimate Guide to Candlestick Charting - New Trader U The price must be in an uptrend before the hanging man candlestick forms. What you want to do is compare the size of the current candle to the earlier candles. For Bullish candlestick patterns, the open is always BELOW the close. n I use it. This candle mainly forms at the top of an uptrend and shows that bulls are getting weaker and unable to close the price higher. Example of the on-neck candlestick pattern: The Bullish Counterattack is a bullish reversal candlestick pattern. Learn to spot trends and act on them intelligently. The Monster Guide to Candlestick PatternsThe Price Action Trading Strategy GuideThe Best Trading Books of All TimeThe 5 Best Trend Indicators That WorkThe 5 Types of Forex Trading Strategies That WorkThe Support and Resistance Trading Strategy GuideThe Moving Average Indicator Strategy GuideThe Complete Guide to Finding High Probability Trading SetupsHow Much Money Can You Make from Trading?Swing Trading Strategies That Work, Rayner Teo is an independent trader, ex-prop trader, and founder of TradingwithRayner.He is the most followed trader in Singapore with more than 100,000 traders reading his blog every monthContinue reading. There is no perfect answer to this question cause every trader uses these patterns as per their psychological and technical knowledge. Thanks for producing such fresh clean content. The Hammer candle pattern is a single candlestick pattern. If these candles are formed in an ongoing downtrend, the trend will change from down to up. The color of the body does not matter, although a red body is more powerful than a green one. However, you dont want to trade candlestick patterns in isolation because they dont offer an edge in the markets. PDF The ultimate guide to chart patterns free pdf - Venefoil In short, a Tweezer Top tells you the market has difficulty trading higher (after two attempts) and its likely to head lower.
