Mastering Candlestick Patterns for better trades!

Candlestick patterns are a powerful tool for identifying market sentiment and potential reversals. Let's break down some key single and double candlestick formations seen in this chart:

🕯️Single Candlestick Patterns:
- Doji – Represents indecision in the market, signaling a potential reversal.
- Inverted Hammer – A bullish reversal pattern after a downtrend, indicating buyers are stepping in.
- Long-Legged Doji – Suggests market uncertainty; watch for confirmation before taking a position.
- Bearish Closing Marubozu – A strong bearish signal showing sellers' dominance, with no upper wick.
- Bullish Opening Marubozu – A strong bullish candle with no lower wick, signaling a potential uptrend.

🕯️Double Candlestick Patterns:
- Bullish Engulfing – A strong bullish reversal pattern where the green candle fully engulfs the previous red candle, signaling buying pressure.
- Bullish Harami – A potential trend reversal where a small green candle is "inside" the previous large red candle, indicating a slowdown in selling.
- Cross Doji – Suggests hesitation between buyers and sellers, often appearing before a reversal.

How to Use Them in Trading?
✔️ Combine candlestick patterns with indicators like RSI, MACD, or Moving Averages for stronger confirmations.
✔️ Look for patterns near key support and resistance levels to increase reliability.
✔️ Always wait for confirmation before entering a trade!