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Candlestick Patterns

Technical Analysisintermediate
Updated 1/15/2024

Definition

Candlestick patterns are formations created by one or more candlesticks that suggest potential price direction. Common patterns include doji, hammer, engulfing, and shooting star, each indicating different market sentiment.

Example

A hammer candlestick at a support level suggests potential bullish reversal. An engulfing pattern shows strong momentum in the engulfing direction.

Tags

#technical-analysis#candlesticks#patterns
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