Thursday, 26 December 2019

Get to know the type of candlestick patterns

Previously, we already knew what a candlestick is, which is one type of price chart (chart) to map and read price movements on the financial market technically. After knowing the general meaning of candlesticks, the next thing to know is the types of candlestick patterns.

Previously, we already knew what a candlestick is, which is one type of price chart (chart) to map and read price movements on the financial market technically. After knowing the general meaning of candlesticks, the next thing to know is the types of candlestick patterns.



According to its shape, there are 42 types of candlestick patterns. Lots of it, right? but don't worry, how to read it is divided into 3 types of candlestick patterns that are easier to remember and learn. Let's remember, the 3 types of candlestick patterns are:

Single Candlestick Pattern

Double Candlestick Pattern

Triple Candlestick Pattern

The discussion of these types of candlestick patterns requires quite a long time, but it will be very useful to use when we will take action in forex trading. In addition, because the candlestick method was adopted from Japanese technical analysis, many of the terms from the land of Sakura are used.


Single Candlestick Pattern

As the name implies, there is no alias single partner. This single candlestick pattern consists of one segment and is easiest to see.


Double Candlestick Pattern

After studying the single candlestick pattern, we turn to a more complex discussion of the double candlestick pattern. Here what we do is pay attention not only to one segment of the candle body, but also the appearance of the candle next to it.

Triple Candlestick Pattern

Finally we come to the type of candlestick patterns that are widely used by traders because of their higher accuracy, the triple candlestick pattern. After previously we have observed a single candlestick that is alone, a double candlestick that is always together, then the triple candlestick presents three candlesticks that have a certain character. But do not worry, the appearance of a third party on this candlestick does not bring turbidity. Instead he will help us to better read market conditions.

Thus an explanation of the various types of candlestick patterns that often appear. At first it may seem confusing, but over time, traders will be easier to understand when they see it appear on the chart.

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