what is a Japanese candlestick ? candlestick chart (also called Japanese candlestick chart) is a style of financial chart used to describe price movements of a security, derivative, or currency. ... Candlestick charts are most often used in technical analysis of equity and currency price patterns
anatomy of a candlestick
every candle is telling us a different story and we have to understand the language of the market but understanding the anatomy of each and every candle
Single candlestick pattern (hammer hanging man)
single candlestick patterns are the ones include only one candle in their formation and we start looking at the hammer and the hanging man which look exactly alike but with different meaning depending on the past price actions .
Single candlestick pattern (inverted hammer shooting star)
The inverted hammer and shooting star also look identical. The only difference between them is whether you’re in a downtrend or uptrend.
An inverted hammer is a bullish reversal candlestick.
A shooting star is a bearish reversal candlestick.
Both candlesticks have petite little bodies (filled or hollow), long upper shadows, and small or absent lower shadow
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