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Basic Patterns
There are some basic candlesticks patterns described in this part. But first of all some candlestick terms.
A long body has a very long body when compared with other recent candles.
A short candle is the opposite of a long candle and usually implies consolidation, as the stock market traded in a narrow range during the trading period.
White bodies show intense buying pressure, where as black bodies show intense selling pressures.
Long Days pattern
These candlesticks indicate the great difference between the open and the close price for a trading day. The shadow are much shorter than the real body.
Short Days pattern
These candlesticks indicate the small difference between the open and the close price for a trading day. Both the body and the shadow lines are very short.
Marubozu pattern
Marubozu means there are no shadows from the bodies.
A White Marubozu is a long white body with no shadows. It indicates a bullish trend and usually becomes the first part of a bullish continuation or a bullish reversal pattern.
A Black Marubozu is a long black body with no shadows. It usually implies bearish continuation or bearish reversal.
Spinning Tops pattern
This pattern has longer shadow than the real body. The color of the real bodies are not very important. The pattern indicates the indecision between the bullish and bearish trends.
Stars and Rain Drops pattern
A Star pattern appears when a small body gaps above the previous day's long body.
A Rain Drop pattern appears when a small body gaps below the previous day's long body. Stars and Rain Drops are the part of the more complicated patterns, such as the reversal patterns.
