In the first part of the post, we looked at Equal open and close, Doji patterns and in the second part, we looked at Short body candles. In today’s post, we will discuss Long body candlestick patterns.
Long body candlestick patterns
Dark Cloud Cover:
Dark cloud cover candlestick patterns indicate an incoming bearish reversal.
A two candle pattern, the first candle is a long green bullish candle.
The next candle opens higher but reverses and declines, the candle then closes below the center of the first candle.
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WHILE everyone is used to seeing the conventional line charts found in everyday life, the candlestick chart is a chart variant that has been used for around 300 years and discloses more information than your conventional line chart.
The candlestick is a thin vertical line showing the period’s trading range.
A wide bar on the vertical line illustrates the difference between the open and close.
Note: The daily candlestick line contains the currency’s value at open, high, low and close of a specific day.
The candlestick has a wide part, which is called the “real body“.
This real body represents the range between the open and close of that day’s trading.
When the real body is filled in or black, it means the close was lower than the open.
If the real body is empty, it means the opposite: the close was higher than the open.
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