37 Candlestick Patterns Dictionary PDF Guide
Each post in the Candlestick Patterns Dictionary has discussed 37 different candlestick patterns. This pattern has a very high win rate because it includes proper confluences for each candle. It increases the chance of making a profit in trading.
You will find a quick explanation for each candlestick in this article. At the end, you’ll be able to access a PDF file of all candlestick designs.
What is a candlestick?
The three major points of a candlestick are the closing price, opening prices, and wicks. Candlestick shows information on price movement and indicates whether the price is bullish or bearish.
- Offered at an open priceOpening price refers to the initial traded price for a pair of currency pairs during that period
- Near priceClosing price: This indicates the closing price for a pair that was exchanged in that particular time frame.
- Wick: wick indicates the variation in price relative to a specific pair’s opening and closing price.
There are many types of candlestick patterns
Based on which direction the trend is heading, candlestick patterns can be divided into two types.
The two patterns can be further divided into trend reversal and trend continuation as well as ranging market patterns.
Check out these 37 top candlestick patterns
Below is a list of 37 patterns with high probabilities.
Pin Bar
Pin bar candles are a trendy reversal pattern. They have a narrow body and a long tail at the top or bottom. Pin bar candles don’t care about the color of your candlestick.
You can further divide it into two types
- Bullish bullish pin bar: A long tail will develop below the body.
- Bearish pin bar: Above the candlestick’s body, the long tail will be visible
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Engulfing
An engulfing candle is a candlestick which completely engulfs the candle before it. You can also engulf your candle with two other types.
- Bullish engulfing
- Bearish Engulfing
The body of the candlestick that was previously used should be completely engulfed in order to achieve a better engulfing result.
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Inside bar
Inside bar refers to a candlestick pattern that consists of two candlesticks in which the most recent candlestick will form within the range of the previous candle.
This is a sign of market indecisiveness. The market determines its course by breaking the in-bar candle.
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Morning Doji Star
Morning Doji Star, also known as the Doji candle or the bearish candlestick is made up of three candles. This is a bearish trend reversal candlestick pattern and a bullish candlestick.
It is composed of three candlesticks.
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Doji, a long-legged dog
The long-legged Doji Candlestick has both a lower and a longer upper wick. Each Doji candlestick has the same closing and opening price. There is a slight difference in the high and low prices between Doji types.
Doji, with long-legged legs, symbolizes market indecisiveness.
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Three Outside Down
Three outside down is a bearish candlestick pattern that consists of three candlesticks in a specific pattern indicating a bullish trend reversal.
Engulfing candlestick acts as an outside bar and then a small candlestick making a lower low confirms that bullish trend has been changed into a bearish trend.
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Bullish belt hold
Bullish belt hold is a candlestick pattern in which after three consecutive lower lows, a big bullish candlestick opens with a gap making a new lower low and then closing within the range of the previous candlestick.
It is the trend-reversal pattern for candlesticks.
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Bullish Piercing
The bullish piercing pattern is a bullish trend reversal candlestick pattern that consists of two candlesticks and the recent candlestick closes above the 50% level of the previous candlestick.
A piercing pattern is a simple candlestick pattern that also resembles a bullish pin bar on a higher timeframe.
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Bearish Belt Hold
The trend reversal pattern of a candlestick called bearish belt hold changes the bullish trend to bearish.. A long bearish candlestick at the top is formed after three bullish candlesticks have been created. This results in a price trend reverse.
This is the reverse pattern of the bullish hold.
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Rising Window
The rising window is a candlestick pattern that consists of two bullish candlesticks with a gap between them. A gap is the space between two candlesticks’ high and lowest points. High trading volatility is what causes it.
This is a continuation trend pattern
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Falling Window
A candlestick pattern called the falling window consists of two candlesticks that are bearish and have a gap between them. The down gap refers to the space between the highest and lowest candlesticks.
It is a continuation bearish pattern.
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Tweezer top
A reversal pattern of candlesticks, the tweezer topped is made up of two different colors of candlesticks. The opening price for each candlestick is equal.
It is a reversal pattern that changes the price trend from bullish into bearish.
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Tweezer Bottom
The tweezer bottom is a reversal candlestick pattern that consists of two opposite color candlesticks and the closing price of the first bearish candlestick will be equal to the opening price of the second bullish candlestick.
It’s a bullish-reversal candlestick.
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Doji of Dragonfly
Dragonfly Doji is a type of Doji candlestick that represents indecision in the market, and it turns the bearish price trend into a bullish trend.
A large wick indicates a false breakout, which results in trend reversal.
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Evening Doji Star
Evening Doji Star is three-candlestick design that consists of a Doji, bullish, and bearish candlesticks.. It is a bullish trend reversal candlestick pattern.
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The Three Steps to Rising
Rising three methods is a trend continuation candlestick pattern that consists of five candlesticks on the price chart. This pattern forms in trending market conditions, and it indicates that the price will continue to rise.
The rising three method candlestick pattern allows traders to make important trade management decisions, such as holding or closing a trade immediately.
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The Falling Method: Three Methods
The trend continuation bearish candlestick patterns of falling three methods consists five candlessticks. It represents that the previous bearish trend will continue, decreasing the price.
It is not a trend reversal candlestick pattern.
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The Bullish Baby is Abandoned
Bullish abandon baby: This is a pattern of trend-reversal candlestick patterns that includes a bullish candlestick and Doji with a gap up.
It is rare for this candlestick pattern to form on the stock price chart. This candlestick pattern can be seen in both the stock and index price charts.
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The Bearish Baby is Abandoned
The trend reversal pattern of the candlestick is called a “bearish abandoned baby” and it consists of a Doji, a bullish candlestick and a bearish candlestick. A gap forms before and after the Doji candlestick, and Doji candlestick forms between bearish and bullish candlestick.
More than one Doji candlesticks in an abandoned baby pattern can also form between bullish and bearish candlestick.
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Bearish Piercing
The bearish piercing pattern is a bearish trend reversal candlestick pattern that consists of two opposite color candlesticks with a price gap in between them. The bearish candlestick in this pattern closes below the 50% mark of the bullish candlestick.
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Three white Soldiers
Three white soldiers is a bullish trend reversal candlestick pattern that consists of three bullish candlesticks making higher highs and high lows. These candlesticks are arranged in a series, with smaller wicks and shadows that signify a large momentum of sellers.
The three black crows candlestick pattern is opposite to the three white soldiers’ pattern.
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Three Black Crows
Three black crows is a bearish trend reversal candlestick pattern that consists of three big bearish candlesticks making lower lows and lower highs.
To get high wins, three candlestick patterns of black crows should be formed at the top price uptrend.
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Waves of High Quality
The High Wave pattern uses larger candlestick wicks/shadows to create a pattern. It is more substantial than the standard size candlestick. The candlestick’s body is smaller than the shadows.
It is like a spinning top or long-legged Doji candlestick.
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Three stars in the South
The Three Stars in the south is a bullish reversal candlestick pattern made up of three bearish candlesticks. This candlestick pattern is based on the size of each previous candlestick.
The structure of this pattern also relates to the inside bar candlestick pattern,
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Consideration
Deliberation Candlestick pattern is a trend reversal candlestick pattern made of three consecutive bullish candlesticks in a proper sequence. The stalled candlestick design is another name for this candlestick.
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Bearish Kicking
Bearish kicking refers to a pattern of candlesticks that reverses price trends. It consists of two marubozu candlessticks, one each side. There is also a gap in between. It is likely to form near the resistance/supply levels or at the top price chart.
The bearish kicking candle is used to forecast an upcoming bearish trend in the market.
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The Neck
The On-neck pattern is a candlestick pattern in which after a long bearish candlestick, a small candlestick will with a gap down, and it will close near the opening price of the previous big bearish candlestick.
It is a bearish trend continuation candlestick pattern
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The Upside Tasuki Gap
The upside Tasuki gap is a bullish trend continuation pattern that consists of three candlesticks and an upside gap.
This candlestick pattern tells retail traders that the market’s bullish trend will continue, and buyers are in control.
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Separating Lines
A trend continuation pattern that consists of two candlesticks with opposite colors is the separating lines candlestick. The closing of the first candlestick will be equal to the opening price of the second candlestick.Advertisements
This suggests that the trend of previous years will continue.
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Tasuki Gap, Downside
The Downside Tasuki gap is a continuation candlestick pattern that consists of three candlesticks with a downside gap. Two bearish candlesticks will create the downside gap.
It is a bearish trend continuation pattern representing the seller is in control.
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A Bearish Breakaway
A bearish candlestick pattern consisting of five candlessticks that are reversal, called the Bearish Breakaway. A gap zone. After forming this candlestick pattern, a bullish trend will turn into a bearish price trend.
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Bullish Kicker
A bullish trend reversal candlestick, the Bullish Kicker Candlestick, consists of two candlesticks that are opposite colors with a gap. It will turn the bearish trend into a bullish price trend.
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Bullish mat holds
Bullish mat hold is a trend continuation candlestick pattern consisting of five candles and a gap. This indicates that the trend is continuing.
In stocks and indices, bullish mat hold patterns are most common.
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Advance Block
The advance block is a bearish reversal candlestick pattern that consists of three bullish candlesticks. It will turn the bullish price trend into a bearish trend. That’s why it will form at the top of the uptrend.
Due to very rare price charts, it is one pattern without an opposite (bullish reverse).
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Mixing High
The bearish reversal pattern Matching High is made up of two candlesticks that are bullish and have the same high, but no shadows.
The second candlestick opens with a gap down in this pattern.Advertisements
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Mixing low
A bullish trend reversal candlestick patterns called Matching low. It consists of two bearish candlesticks, each with the closing price of the candlestick. There are no shadows at the lower end of the candlestick.
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Tower Bottom
Tower bottom refers to a bullish trend reversal candlestick design that includes two different-colored big candlesticks, and up to three or five smaller base candlessticks.
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Conclusion
Retail traders use the candlestick patterns extensively in their technical analysis. Steve Nison introduced these patterns.
These candlestick patterns can be used in conjunction with technical tools to produce profitable results.
To become a pro trader, you must backtest at least 50 patterns.
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