A spinning top is a single candlestick pattern that has a body in the middle of two longer wicks. A spinning top chart pattern is a signal that neither buyers or sellers have control of price action in the time frame of the candle. The spinning top candle shows that price ended up closer to […]
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The piercing pattern candlestick chart is a two day price action pattern. It is created after one large down black or red candlestick followed by one large up white or green candlestick that opens below the low of the preceding candlestick but closes over halfway up into the previous black bearish body candlestick. This candlestick
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Bearish candlestick patterns on a chart visually show selling pressure. These patterns can show the possibility of a price reversal during an uptrend or the continuation of a downtrend already in place. There can be single bearish candles or bearish candlestick patterns containing multiple candles in row. Here are some of the most popular bearish
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A retracement on a chart means that there is a temporary pullback on the direction of the price action against the longer term trend. A retracement can return to a previous vertical support level like an ascending or descending moving average or a Fibonacci level while a reversal breaks a key previous support or resistance
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The inverted hammer pattern is a type of candlestick located at the end of downtrend and is used by technical analysts as a bullish reversal signal from the lows. The inverted hammer candle visually looks like a hammer turned upside down with its handle pointing up. It is defined as a one day bullish reversal
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An Evening Star is a group of candlesticks that create a chart pattern used in technical analysis to signal a high probability that a current uptrend in price could reverse. This is a bearish candlestick pattern created by three candles in a row consisting of a large white/green candlestick, a small candle that is usually
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The Quasimodo chart pattern is a lesser known bearish chart formation in technical analysis. It has also been called the Over and Under chart pattern. This pattern can identify a high probability confluence area on a chart at a resistance zone that can lead to a reversal in an upswing. It is a signaling pattern
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A bullish pennant chart pattern can be a powerful bullish chart pattern that is found during strong bull markets that is very similar to the bull flag. They are more rare than a bull flag. The price compression in the pennant can lead to explosive moves once there is a breakout. Many times these patterns
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In technical analysis the triple top chart pattern can be a possible signal for a reversal lower in price. This pattern is formed when price action find resistance inside a price zone three separate times. This type of price behavior can give clues that there are no buyers at higher prices above that resistance zone
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A candlestick chart is a type of visual representation of price action used in technical trading to show past and current price action in specified timeframes. Most candlestick charts will reflect a higher close than the open as represented by either a green or white candle with the opening price as the bottom of the
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