📍#Learning #CCCTradingLesson
•The candlesticks are used to identify trading patterns that help technical analyst set up their trades.
•These candlestick patterns are used for predicting the future direction of the price movements.
•The candlesticks are formed by grouping two or more candlesticks in a certain way.
•Sometimes powerful signals can also be given by just one candlestick, however candlesticks are mostly counted as confluence.
📍#Education #cryptoeducation 📚
•The candlesticks are used to identify trading patterns that help technical analyst set up their trades.
•These candlestick patterns are used for predicting the future direction of the price movements.
•The candlesticks are formed by grouping two or more candlesticks in a certain way.
•Sometimes powerful signals can also be given by just one candlestick, however candlesticks are mostly counted as confluence.
📍#Education #cryptoeducation 📚
📍#Learning #CCCTradingLesson
•Hammer is a single candlestick pattern that is formed at the end of a downtrend and signals a bullish reversal.
•The real body of this candle is small located at the top with a lower shadow which should be more than twice the real body. It has no or little upper shadow.
•Suddenly the buyers came into the market & pushed the prices up & closed the trading session more than the opening price.
•This resulted in the formation of bullish pattern and signifies that buyers are back in the market and downtrend may end.
•Traders can enter a long position if next day a bullish candle is formed and can place a SL at the low of Hammer.
📍#Education #cryptoeducation 📚
•Hammer is a single candlestick pattern that is formed at the end of a downtrend and signals a bullish reversal.
•The real body of this candle is small located at the top with a lower shadow which should be more than twice the real body. It has no or little upper shadow.
•Suddenly the buyers came into the market & pushed the prices up & closed the trading session more than the opening price.
•This resulted in the formation of bullish pattern and signifies that buyers are back in the market and downtrend may end.
•Traders can enter a long position if next day a bullish candle is formed and can place a SL at the low of Hammer.
📍#Education #cryptoeducation 📚
📍#Learning #CCCTradingLesson
•Piercing pattern is a multiple candlestick chart pattern formed after a downtrend indicating a bullish reversal.
•Two candles form it, the first candle being a bearish candle which indicates the continuation of the downtrend.
•The second candle is a bullish candle which opens the gap down but closes more than 50% of the real body of the previous candle, which indicates bulls are back.
•Traders can enter a long position if the next day a bullish candle is formed and can place SL at the low of the second candle.
📍#Education #cryptoeducation 📚
•Piercing pattern is a multiple candlestick chart pattern formed after a downtrend indicating a bullish reversal.
•Two candles form it, the first candle being a bearish candle which indicates the continuation of the downtrend.
•The second candle is a bullish candle which opens the gap down but closes more than 50% of the real body of the previous candle, which indicates bulls are back.
•Traders can enter a long position if the next day a bullish candle is formed and can place SL at the low of the second candle.
📍#Education #cryptoeducation 📚
📍#Learning #CCCTradingLesson
•Piercing pattern is a multiple candlestick chart pattern formed after a downtrend indicating a bullish reversal.
•Two candles form it, the first candle being a bearish candle which indicates the continuation of the downtrend.
•The second candle is a bullish candle which opens the gap down but closes more than 50% of the real body of the previous candle, which indicates bulls are back.
•Traders can enter a long position if the next day a bullish candle is formed and can place SL at the low of the second candle.
📍#Education #cryptoeducation 📚
•Piercing pattern is a multiple candlestick chart pattern formed after a downtrend indicating a bullish reversal.
•Two candles form it, the first candle being a bearish candle which indicates the continuation of the downtrend.
•The second candle is a bullish candle which opens the gap down but closes more than 50% of the real body of the previous candle, which indicates bulls are back.
•Traders can enter a long position if the next day a bullish candle is formed and can place SL at the low of the second candle.
📍#Education #cryptoeducation 📚