Candlestick patterns are a definite behavior of price movement in the market in the short-term period. Few popular patterns of candlesticks can be named as follows:
(a) Bullish or bearish engulfing
(b) bullish or Bearish piercing
(c) Doji
(d) Morning & Evening Star
(e) Hammer or hanging man
These patterns strongly indicate a change in price direction subjected to its validation & confirmation. Such behavioral consistency has been observed by many traders towards identifying the change in trend and positioning themselves for their benefits.