| Reversal Patterns | Continuation Patterns |
| Head and Shoulders | Channels / Rectangles |
| Wedges | Flags and Pennants |
| 123, Highers Lowers, Lower Highs | Triangles |
| Double Top/Bottoms | 1234s, Higher Lows, Lower Highs |
| Trendline, Support/Resistance | |
| Pivots | |
| Candlesticks |
The above from p 22 of Forex Trading with Japanese Candlesticks and Chart Patterns
Japanese Candlesticks
(from Wikipedia)
- White candlestick - signals uptrend movement (those occur in different lengths; the longer the body, the more significant the price increase)
- Black candlestick - signals downtrend movement (those occur in different lengths; the longer the body, the more significant the price decrease)
- Long lower shadow - bullish signal (the lower wick must be at least the body's size; the longer the lower wick, the more reliable the signal)
- Long upper shadow - bearish signal (the upper wick must be at least the body's size; the longer the upper wick, the more reliable the signal)
- Hammer - a bullish pattern during a downtrend (long lower wick and small or no body); Shaven head - a bullish pattern during a downtrend & a bearish pattern during an uptrend (no upper wick); Hanging man - bearish pattern during an uptrend (long lower wick, small or no body; wick has the multiple length of the body.
- Inverted hammer - signals bottom reversal, however confirmation must be obtained from next trade (may be either a white or black body); Shaven bottom - signaling bottom reversal, however confirmation must be obtained from next trade (no lower wick); Shooting star - a bearish pattern during an uptrend (small body, long upper wick, small or no lower wick)
- Spinning top white - neutral pattern, meaningful in combination with other candlestick patterns
- Spinning top black - neutral pattern, meaningful in combination with other candlestick patterns
- Doji - neutral pattern, meaningful in combination with other candlestick patterns
- Long legged doji - signals a top reversal
- Dragonfly doji - signals trend reversal (no upper wick, long lower wick)
- Gravestone doji - signals trend reversal (no lower wick, long upper wick)
- Marubozu white - dominant bullish trades, continued bullish trend (no upper, no lower wick)
- Marubozu black - dominant bearish trades, continued bearish trend (no upper, no lower wick)
No comments:
Post a Comment