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Candlestick #charts patterns is a movement in prices shown graphically on a candlestick chart that some believe can predict a particular market movement
In Technical Analysis, a candlestick pattern is a movement in prices shown graphically on a candlestick chart that some believe can predict a particular market movement.
History:
Some of the earliest technical trading analysis was used to track prices of rice in the 18th century. Much of the credit for candlestick charting goes to Munehisa Homma (1724–1803), a rice merchant from Sakata, Japan who traded in the Ojima Rice market in Osaka
Formation of the candlestick:
Candlesticks are graphical representations of price movements for a given period of time. They are commonly formed by the opening, high, low, and closing prices of a financial instrument.
Most Essential Stock Chart Patterns with @valuelevels
1. Ascending triangle 2. Descending triangle 3. Symmetrical triangle 4. Pennant 5. Flag 6. Wedge 7. Double bottom 8. Double top 9. Head and shoulders 10. Rounding top or bottom 11. Cup and handle
Cup and handle:
The cup and handle is a well-known continuation stock chart pattern that signals a bullish market trend. The cup appears similar to a rounding bottom chart pattern, and the handle is similar to a wedge pattern
Rounding top/bottom:
The rounded top and bottom are reversal patterns designed to catch the end of a trend and signal a potential reversal point on a price chart.