CANDLESTICK – POWERFUL CHART FOR TECHNICAL ANALYSIS

Candle sticks weekly trading.
Engulfing pattern : Bullish candle should completely engulf the previous day bearish candle.
Piercing Pattern : Body should cover the previous day low, today’s body should cover at least 50% of the previous candle. Upper tail should be small in size.
DOJI, Hammer and hanging man. Hanging man is inversion of Hammer and represent Bearish.
Important points to be noted is the recent price fall for all the patterns. Trend reversals.
Target for bullish: Previous high + (Previous high – previous low)
Target for bearish: Previous low – (Previous high – previous low)