Do you know the Simple trading Book📚? Chapter 8 ✍️
Bearish Engulfing
The bearish engulfing is the inverse version of a bullish engulfing. The first candle has a small green body and is completely covered by the next long red candle. This pattern comes at the peak of an uptrend and suggests a reversal. The lower the second candle continues, the more momentum the bearish move will have. $BTC $ETH $ASTER #altcoins
Do you know the Simple trading Book📚? Chapter 7 ✍️
Shooting Star
The shooting star is the opposite of an inverted hammer. It consists of a red candle with a short body and a long upper shadow. Generally, the market will gap a bit higher on the candlestick opening and will surge to a local peak before closing just below the open. The body can sometimes be almost non-existent. $BTC $ETH $ASTER #altcoins
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Do you know the Simple trading Book📚? Chapter 6 ✍️
BEARISH Candle-Stick Patterns
Hanging Man
hanging man is the same pattern as the hammer, only inversed. Thus it is formed by a green or red candlestick with a short body and a long lower shadow. It shows up at the end of an uptrend. It suggests a considerable sell-off during a given period, but bulls could temporarily push prices higher, after which they lose control. $BTC $ASTER $BNB #altcoins
Do you know the Simple trading Book📚? Chapter 5 ✍️
Three White Soldiers
This pattern is made up of three long green candles in a row. This pattern also has to open and close higher than the previous period.
Three White Soldiers is a strong bullish signal that appears after a downtrend.
This pattern is considered a reliable reversal pattern when confirmed by other technical indicators like the Relative Strength Index (RSI) $BTC $ETH $ASTER #altcoins
Do you know the Simple #trading Book📚? Chapter 4 ✍️
Bullish Engulfing
The bullish engulfing pattern is formed by two candlesticks. The first candle is a short red body that is completely engulfed by a larger green candle.
The buying pressure increases, leading to a reversal of the downtrend.
The second bullish candlestick engulfs the body of the first bearish candlestick. $BTC $ETH $ASTER #altcoins
The Hammer candlestick pattern consists of a small body and a long wick extending from the bottom.
This pattern can be seen at the support line of a downward trend (see example below).
Hammer candlesticks typically occur after a price decline.
Hammer candlesticks indicate a potential price reversal to the upside. The price must start moving up following the hammer; this is called confirmation. $BTC $ETH $ASTER #altcoins
A candlestick is a single bar on a candlestick price chart, showing traders market movements at a glance.
Each candlestick shows the open price, low price, high price, and close price of a market for a particular period of time.
The Body represents the open-to-close range.
The Wick, or shadow, indicates the intra-day high and low.
The Color reveals the direction of market movement a green body indicates a price increase, while a red body shows a price decrease $BTC $ETH $ASTER #altcoins
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