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)

  • : CANDLE STICK ANALYSIS: Japanese technique of understanding the demand and supply. Simple and powerful analytical method. More information than line charts. Generally a reversal pattern.
  • : Good for traders doing trade on weekly basis.
  • : Candle sticks should be used by weekly traders and volume is not mandatory unlike price patterns.
  • : Bullish Engulfing: The latest bullish body should cover the previous day's bearish body. A recent fall in the price trend. Increase in volume but not mandatory. The entry (buy) should be highest of last two bullish candle and exit should be below the lowest of the previous day.
  • : Piercing Pattern: A recent fall in the price. Bull body should cover the previous low. Recent body should cover 50% of the previous mark. Upper tail should should be small in size. Buy: the highest of today and previous day high. Sell: The low of today and previous day's low.
  • : DOJI: Neutral. Open and Close happening at the same price. Volume should be high during the DOJI day. A recent price fall should be indicative. DOJI formation after sideways trend should be ignored.
  • : Morning Star: A bullish after a previous day price fall. Evening Star: Bearish after a bright bullish day. Buy: DOJI high. Sell: DOJI low.
  • : Hammer: It represents bullish trend. High trading volume is expected to happen. Hanging Man: It is a bearish trend.

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