Candelstick Basic Patterns
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Japanese rice traders developed candlesticks centuries ago
to visually display price activity over a defined trading
period. Each candlestick represents the trading activity for
one period. The lines of a candlestick represent the opening,
high, low and closing values for the period.
The main body (the wide part) of the candlestick represents
the range between the opening and closing prices. If the
closing price is higher than the opening price, the main
body is white. If the closing price is lower than the opening
price, the main body is black.
The lines protruding from either end are called wicks or
shadows.
Bearish
Bearish 3
Pattern A long black body followed by
several small bodys and ending in
another long black body. The small
bodys are usually contained within
the first black body's range.
Interpretation A bearish continuation pattern.
Bearish Harami
Bearish Harami
Pattern A very large white body followed by a
small black body that is contained within
the previous bar.
Interpretation A bearish pattern when preceded by an
uptrend.
Bearish Harami Cross
Bearish Harami Cross
Pattern A Doji contained within a large white
body.
Interpretation A top reversal signal.
Big Black candle
Big Black Candle
Pattern An unusually long black body with a wide
range. Prices open near the high and
close near the low.
Interpretation A bearish pattern.
Big White Candle
Big White Candle
Pattern A very long white body with a wide range
between high and low. Prices open near
the low and close near the high.
Interpretation A bullish pattern.
Black Body
Black Body
Pattern This candlestick is formed when the
closing price is lower than the opening
price.
Interpretation A bearish signal. More important when
part of a pattern.
Bullish 3
Bullish 3
Pattern A long white body followed by three
small bodies, ending in another long
white body. The three small bodies are
contained within the first white body.
Interpretation A bullish continuation pattern
Bullish Harami
Bullish Harami
Pattern A very large black body is followed by a
small white body and is contained within
the black body.
Interpretation A bullish pattern when preceded by a
downtrend.
Bullish Harami Cross
Bullish Harami Cross
Pattern A Doji contained within a large black
body.
Interpretation A bottom reversal pattern.
Dark Cloud Cover
Dark Cloud Cover
Pattern A long white body followed by a black
body. The following black candlestick
opens higher than the white candlestick's
high and closes at least 50% into the
white candlestick's body.
Interpretation A bearish reversal signal during an
uptrend.
Doji
Doji
Pattern The open and close are the same.
Interpretation Dojis are usually components of many
candlestick patterns. This candlestick
assumes more importance the longer
the verticle line.
DoJi Star
Doji Star
Pattern A Doji which gaps above or below a
white or black candlestick.
Interpretation A reversal signal confirmed by the next
candlestick (eg. a long white candlestick
would confirm a reversal up).
Engulfing Bearish Line
Engulfing Bearish Line
Pattern A small white body followed by and
contained within a large black body.
Interpretation A top reversal signal.
Engulfing Bullish Line
Engulfing Bullish Line
Pattern A small black body followed by and
contained within a large white body.
Interpretation A bottom reversal signal.
Evening Doji Star
Evening Doji Star
Pattern A large white body followed by a Doji
that gaps above the white body. The
third candlestick is a black body that
closes 50% or more into the white body.
Interpretation A top reversal signal, more bearish than
the regular evening star pattern.
Evening Star
Evening Star
Pattern A large white body followed by a small
body that gaps above the white body.
The third candlestick is a black body
that closes 50% or more into the white
body.
Interpretation A top reversal signal.
Falling Widow
Falling Window
Pattern A gap or "window" between the low of
the first candlestick and the high of the
second candlestick.
Interpretation A rally to the gap is highly probable. The
gap should provide resistance.
Gravestone Doji
Gravestone Doji
Pattern The open and close are at the low of the
bar.
Interpretation A top reversal signal. The longer the
upper wick, the more bearish the signal.
Hammer
Hammer
Pattern A small body near the high with a long
lower wick with little or no upper wick.
Interpretation A bullish pattern during a downtrend.
Hanging Man
Hanging Man
Pattern A small body near the high with a long
lower wick with little or no upper wick. The
lower wick should be several times the
height of the body.
Interpretation A bearish pattern during an uptrend
Inverted Black Hammer
Inverted Black Hammer
Pattern An upside-down hammer with a black
body.
Interpretation A bottom reversal signal with confirmation
the next trading bar.
Inverted Hammer
Inverted Hammer
Pattern An upside-down hammer with a white or
black body.
Interpretation A bottom reversal signal with
confirmation the next trading bar.
Long Legged Doji
Long Legged Doji
Pattern A Doji pattern with long upper and lower
wicks.
Interpretation A top reversal signal.
Long Lower Shadow
Long Lower Shadow
Pattern A candlestick with a long lower wick with a
length equal to or longer than the range of
the candlestick.
Interpretation A bullish signal.
Long Upper Shadow
Long Upper Shadow
Pattern A candlestick with an upper wick that has
a length equal to or greater than the range
of the candlestick.
Interpretation A bearish signal.
Morning Doji Star
Morning Doji Star
Pattern A large black body followed by a Doji
that gaps below the black body. The next
candlestick is a white body that closes
50% or more into the black body.
Interpretation A bottom reversal signal
Morning Star
Morning Star
Pattern A large black body followed by a small
body that gaps below the black body.
The following candlestick is a white
body that closes 50% or more into the
black body.
Interpretation A bottom reversal signal.
On Neck-Line
On Neck-Line
Pattern In a downtrend, a black candlestick is
followed by a small white candlestick with
its close near the low of the black
candlestick.
Interpretation A bearish pattern where the market
should move lower when the white
candlestick's low is penetrated by the
next bar.
Piercing Line
Piercing Line
Pattern A black candlestick followed by a white
candlestick that opens lower than the
black candlestick's low, but closes 50%
or more into the black body.
Interpretation A bottom reversal signal.
Rising Window
Rising Window
Pattern A gap or "window" between the high of
the first candlestick and the low of the
second candlestick.
Interpretation A selloff to the gap is highly likely. The
gap should provide support.
Separating Lines Up Trend
Separating Lines
Pattern In an uptrend, a black candlestick is
followed by a white candlestick with the
same opening price.
In a downtrend, a white candlestick is
followed by a black candlestick with the
same opening price.
Interpretation A continuation pattern. The prior trend
should resume.
Separating Line in Down Trend
Shaven Bottom
Shaven Bottom
Pattern A candlestick with no lower wick.
Interpretation A bottom reversal signal with confirmation
the next trading bar.
Shaven Head
Shaven Head
Pattern A candlestick with no upper wick.
Interpretation A bullish pattern during a downtrend and
a bearish pattern during an uptrend.
Shooting Star
Shooting Star
Pattern A candlestick with a small body, long
upper wick, and little or no lower wick.
Interpretation A bearish pattern during an uptrend.
Spinning Top
Spinning Top
Pattern A candlestick with a small body. The size of
the wicks is not critical.
Interpretation A neutral pattern usually associated with
other formations.
Three Black Crows
Three Black Crows
Pattern Three long black candlesticks with
consecutively lower closes that close
near their lows.
Interpretation A top reversal signal.
Three White Soldiers
Three White Soldiers
Pattern Three white candlesticks with
consecutively higher closes that close
near their highs.
Interpretation A bottom reversal signal.
Tweezer Bottom
Tweezer Bottoms
Pattern Two or more candlesticks with matching
bottoms. The size or color of the
candlestick does not matter.
Interpretation Minor reversal signal.
Tweezer Tops
Tweezer Tops
Pattern Two or more candlesticks with similar
tops.
Interpretation A reversal signal.
White Body
White Body
Pattern A candlestick formed when the closing
price is higher than the opening price.
Interpretation A bullish signal.
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