by kyer | Apr 19, 2023 | Candlestick Charting
What is a Piercing Line Pattern? A Piercing Line is a two candlestick bullish reversal pattern, made up of a long red candle, followed by a long green candle. It is a reversal signal after a downtrend which indicates strong buying pressure. What Does the Piercing Line...
by kyer | Apr 19, 2023 | Candlestick Charting
What is a Rising Wedge Pattern? The Rising Wedge is a bearish pattern that begins wide at the bottom and contracts as prices move higher and the trading range narrows. In contrast to symmetrical triangles, which have no definitive slope and no bullish or bearish bias,...
by kyer | Apr 19, 2023 | Candlestick Charting
What is a Spinning Top Pattern? Similar to a Doji, a Spinning Top is symmetrical with upper and lower wicks of approximately equal length. The bulls sent the price higher and the bears sent the price lower, but in the end the price closed near where it opened. What...
by kyer | Apr 18, 2023 | Candlestick Charting
What is a Bullish Engulfing Pattern? A Bullish Engulfing Pattern is formed by 2 candlesticks. The first candle is a short red body that is completely engulfed by the second larger green candle. The Bullish Engulfing pattern appears in a downtrend and can be identified...
by kyer | Apr 18, 2023 | Candlestick Charting
What is a Descending Triangle Pattern? A Descending Triangle is a bearish chart pattern that is a signal for traders to take a short position when the price dips below the support and downtrend. Downside momentum is likely to continue or become even stronger. There...
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