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| Reliabilty of Candlestick |
Hello Traders, Welcome to my blog. Today I will discus about Reliability of different candlesticks pattern with help of technical analysis . Each candlestick pattern has its own
characteristic. Due to this feature, it works well in charts. This feature of
candle stick acts as oxygen in the market for a trader.
On the basis of reliability, candlesticks are
divided into three parts.
* Those candlesticks
patterns come in high reliability, after which the trader's confidence in them
is very strong. The reliability of these candle sticks is above 80 % .
* Those candlesticks
patterns come in medium reliability, after which the trader's confidence is
satisfactory. The
reliability of medium reliable candles ranges from 50% to 80%.
* In low reliable,
those candle sticks come which are more visible in the chart. Trader's
credibility on these is very less. But if the momentum is high in the market,
then low reliable candles also give good results.
So let us now classify these candlestick
patterns on the basis of reliability.
(A) Reliability
of Trend reversal Bullish candlesticks pattern
Highly Reliable candlesticks Pattern
Tweezers Bottom,
Kicking Up, Morning Star , Morning
Doji Star, Bullish Abandoned Baby, Concealing
Baby Swallow, Piercing Line, Bullish Tasuki Line , Three Inside Up , Three Outside Up, Three White Soldiers
Medium Reliable candlesticks Pattern
Dragonfly Doji, Bullish Long-legged Doji , Bullish Engulfing, Homing Pigeon, Bullish Harami, Bullish Harami Cross, Bullish Doji Star, Bullish Breakaway, Ladder Bottom, Unique Three River Bottom, Matching Low , Bullish Meeting Lines, Turn Up, Bullish Stick Sandwich, Three Star In The
South, Bullish Tri Star, Bullish Squeeze Alert
Low Reliable candlesticks Pattern
Hammer, Inverted
Hammer, Bullish Spinning Top, High Wave , Bullish belt Hold
(B) Reliability
of Trend Continuation Bullish candlesticks pattern
Highly Reliable candlesticks Pattern
Rising Window,
Bullish Mat Hold, Rising Three
Method, Bullish Side By side White Line
Medium Reliable candlesticks Pattern
Upside Tasuki Gap ,
Upside Gap three Method
Low Reliable candlesticks Pattern
Bullish Separating Line, Bullish Three Line Strike
(C) Reliability
of Trend reversal Bearish candlesticks pattern
High Reliable candlesticks Pattern
Tweezers Top , Kicking
Down, Collapsing Doji Star, Evening Star
, Evening Doji Star, Bearish Abandoned Baby, Dark
Cloud Cover , Bearish Tasuki Line , Three Inside Down , Three Outside Down , Identical Three Crows, Three Black Crows,
Upside gap Two Crows,
Medium Reliable candlesticks Pattern
Gravestone Doji
, Bearish Long-legged Doji, Bearish Doji
Star , Bearish Engulfing , Bearish Harami, Bearish harami Cross, Two Crows, Advance Block , Bearish Breakaway , Bearish Squeeze Alert, Descending Hawk, Bearish Meeting Lines, Bearish Stick Sandwich
, Matching High , Bearish Tri Star , Deliberation , Ladder Top ,
Turn Up
Low Reliable candlesticks Pattern
Hanging Man,
Shooting Star, Bearish Spinning Top, Inverted High Wave, Bearish Belt
Hold
(D) Reliability
of Trend Continuation Bearish candlesticks pattern
High Reliable candlesticks Pattern
Falling Window ,
Falling Three Method
Medium Reliable candlesticks Pattern
Downside Gap Three Method, Downside Tasuki Gap, Bearish Side By side White Line, On Neck ,
In Neck
Low Reliable candlesticks Pattern
Bearish Three Line Strike , Bearish Separating Line , Thrusting, Two Black Gapping Candles
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