Here is a list of Key Bullish Candlestick Reversal Patterns with Variants:
Bullish Engulfing and Variants
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Morning Star and Variants (click on image to enlarge)
Hammer and Inverted Hammer
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Hammer and Inverted Hammer(click on image to enlarge)
Bullish Harami and Variants(click on image to enlarge)
These Candlestick Patterns occur frequently enough to be useful. They also have higher probabilities of success when combined with certain other technical indicators.
Dwight:
ReplyDeleteThanks for the candlesticks:
Question 1: In your experience, what candles or candlestick formations tend to have highest probability of reversing the trend?
Question 2: Are there any candles that have a higher probability without waiting for a second confirmation?
Would like to know those that you have found to pretty reliable?
Thanks
Robert
CANI
Dwight:
ReplyDeleteAn education page request:
Would list additional books or periodicals that you have found useful?
Thanks
Robert
CANI
The Engulfing Family, Hammer Family, and Star Family are some of the strongest signals. But the signals by themselves only have a 40-50% reliability. It's when you combine the signals with other key factors like trend, support and resistance, or other patterns and indicators that you significantly increase probability. I will post a reading list sometime in the next few weeks as I add little "educational" elements here and there.
ReplyDeleteDwight:
ReplyDeleteHow about posting the charts of candle patterns you have on your desktop when you are on coaching
Thanks
Eric Dunn
Dwight:
ReplyDeleteI agree. The complete list of the Candlestick Patterns that you pop-up while coaching would be very helpful.
Thanks!