Here is a list of the different types of candlestick alerts that we use here to trade the forex currency pairs
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Bearish Candles |
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Shooting Star A Shooting Star is a possible indication that the uptrend is about to end and may reverse to a downtrend or move sideways.
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Bearish Evening Stars These are a rare reversal pattern that are viewed as one of the strongest bearish reversal signals in the Forex Market. Best used on daily charts, you have a bullish day followed by a red doji/spinning stop then on the 3rd day we see a drop.
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Dark cloud pattern When there us a strong uptrend you see a new candle form which goes up a little and then traces back down at least 50% of the previous candle you then get a confirmation on the next candle of a continuation of the new bearish trend
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Bearish Engulfing Quire an easy one to spot , after an uptrend the next candle is bearish and is wholly larger than the previous candle.
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Bullish Candles
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Bullish hammer Seen after an established downtrend this type of candle have a small real body that forms at the upper end of the trading range |
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Morning Star A bullish candlestick pattern that consists of three candles that have demonstrated the following characteristics:
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Morning doji star Bullish Morning Doji Stars are a rare reversal pattern that offers one of the strongest bullish reversal signals in Forex . Morning Star formations are characterized by a continuation of a bearish trend followed by a Doji, showing anuncertainty in the strength of trend.
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Piercing line pattern 1st candle is a long black body. 2nd candle is a white body which opens below the low of the previous candle. 2nd candle closes within, but above the midpoint of the 1st day's body.
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Bullish engulfing pattern A chart pattern that forms when a small black candlestick is followed by a large white candlestick that completely engulfs the previous candlestick. The shadows or tails of the small candlestick are short, which enables the body of the large candlestick to cover the entire previous candlestick.
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