Candle stick analysis is the oldest form of analysis invented by Japanese to trade rice, later it has been adopted by western countries.
The forecasting is for short term, normally one week, suites for short term traders.
Engulfing should open below previous day open, covers the entire body of the previous day, and close above the previous day’s high, the volume might be higher, but not necessarily.
Piercing pattern should open below previous day’s low and cover at least 50% of the previous day.
DOJI shows powerful reversal. Hammer and Hanging man patterns also indicates the trend reversals.