Some Common Candlestick Patterns (Part 4.1)

in Tron Fan Club3 months ago

Consistently, I have shared several patterns of Candlestick Patterns with you in the previous 6 posts and tried to share them through examples. Today's post is the last post (4.1) in this discussion where I share four more Candlestick Patterns part by part in two posts. In today's discussion, I am closing the discussion of 16 patterns (part by part) to you as I have come to the very end of giving you basic ideas about all the patterns with examples. Hope you will benefit from those who are brand new in the world of trading, they can understand different patterns and make trading decisions easily.

Dark Cloud Cover

The Dark Cloud Cover candlestick pattern is the bearish counterpart of the Piercing Line pattern and consists of two candlesticks. The first candlestick is bullish, followed by a bearish candlestick that opens above the high of the previous day's candlestick and closes at least halfway into the body of the first candlestick.

Example:

Suppose VeChain (VET) experiences an uptrend, with the price rising from $0.20 to $0.25. However, on the second day, a bearish candlestick forms that opens above the high of the previous day's candlestick and closes below the midpoint of the first candlestick's body. This Dark Cloud Cover pattern suggests a potential reversal in the uptrend.


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Tweezer Tops and Bottoms

Tweezer Tops and Bottoms are reversal patterns that consist of two candlesticks with similar highs (Tweezer Tops) or lows (Tweezer Bottoms). Tweezer Tops occur at the end of an uptrend and suggest a potential reversal, while Tweezer Bottoms occur at the end of a downtrend and signal a potential reversal.

Example:

Suppose Dogecoin (DOGE) experiences an uptrend, with the price rising from $0.10 to $0.15. However, on the second day, two consecutive candlesticks form with similar highs around $0.15. This Tweezer Tops pattern suggests a potential reversal in the uptrend.


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Upvoted! Thank you for supporting witness @jswit.

I watch all your episodes on Candlestick Patterns.
Thanks for sharing with us,

 3 months ago 

Its good to learn about the knowledge you have shared related to Some Common Candlestick Patterns and its nice.

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