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Candle Patterns in Technical Analysis

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Candle patterns are formations created by Japanese candlesticks on a chart, indicating market sentiment and potential price movements. Here are some common ones:

Bullish Patterns- Hammer: Indicates potential reversal from bearish to bullish.
- Bullish Engulfing: Indicates reversal from bearish to bullish.
- Morning Star: Indicates reversal from bearish to bullish.

Bearish Patterns- Shooting Star: Indicates potential reversal from bullish to bearish.
- Bearish Engulfing: Indicates reversal from bullish to bearish.
- Evening Star: Indicates reversal from bullish to bearish.

Indecision Patterns- Doji: Indicates indecision in market.
- Spinning Top: Indicates indecision.

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