TRADING LESSONS FOR BEGINNERS 103
(Part 3)
Candlestick patterns such as the hammer, bullish harami, hanging man, shooting star, and doji can help traders identify potential trend reversals or confirm existing trends.
How to Read Candlestick Patterns
Candlestick patterns are formed by arranging multiple candles in a specific sequence.
There are numerous candlestick patterns, each with its interpretation. While some candlestick patterns provide insight into the balance between buyers and sellers, others may indicate a reversal, continuation, or indecision
It's important to note that candlestick patterns aren’t intrinsically buy or sell signals. Instead, they are a way of looking at current market trends to potentially identify upcoming opportunities.
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