Technical View |
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 percent.
* 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
TweezersBottom,
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
(C) 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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