A Candlestick Pattern Cheat Sheet - GFF Brokers...4 Introduction Candlestick Patterns: What They...

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A Candlestick Pattern Cheat Sheet GFF Brokers

Transcript of A Candlestick Pattern Cheat Sheet - GFF Brokers...4 Introduction Candlestick Patterns: What They...

Page 1: A Candlestick Pattern Cheat Sheet - GFF Brokers...4 Introduction Candlestick Patterns: What They Indicate, What They ‘Tend’ to Do, and How Often They Occur The interpretation of

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

A Candlestick Pattern Cheat Sheet GFF Brokers 

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Table of Contents 

RISK DISCLAIMER ........................................................................................................................................... 3 

Introduction .................................................................................................................................................. 4 

8 New Price Lines .......................................................................................................................................... 5 

10 New Price Lines ........................................................................................................................................ 5 

12 New Price Lines ........................................................................................................................................ 5 

Above the Stomach ....................................................................................................................................... 6 

Below the Stomach ....................................................................................................................................... 6 

Belt Hold Bearish ........................................................................................................................................... 7 

Belt Hold Bullish ............................................................................................................................................ 7 

Breakaway ‐ Bearish ...................................................................................................................................... 8 

Breakaway ‐ Bullish ....................................................................................................................................... 8 

Doji Star ‐ Bullish ........................................................................................................................................... 9 

Doji Star ‐ Bearish .......................................................................................................................................... 9 

Harami ‐ Bearish .......................................................................................................................................... 10 

Harami ‐ Bullish ........................................................................................................................................... 10 

Engulfing ‐ Bullish ........................................................................................................................................ 11 

Engulfing ‐ Bearish ...................................................................................................................................... 11 

Separating Lines ‐ Bullish ............................................................................................................................ 12 

Separating Lines ‐ Bearish ........................................................................................................................... 12 

Dark Cloud Cover ........................................................................................................................................ 13 

Deliberation ................................................................................................................................................ 13 

Doji ‐ Dragonfly ........................................................................................................................................... 14 

Doji ‐ Gap Down .......................................................................................................................................... 14 

Doji ‐ Gap Up ............................................................................................................................................... 14 

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Doji ‐ Gravestone ........................................................................................................................................ 15 

Doji ‐ Long Legged ....................................................................................................................................... 15 

Hanging Man ............................................................................................................................................... 15 

Kicking ‐ Bullish ........................................................................................................................................... 16 

Kicking ‐ Bearish .......................................................................................................................................... 16 

Meeting Lines ‐ Bullish ................................................................................................................................ 17 

Meeting Lines ‐ Bearish ............................................................................................................................... 17 

Piercing Pattern........................................................................................................................................... 18 

Takuri Line ................................................................................................................................................... 18 

Three Black Crows ....................................................................................................................................... 18 

Three Inside Down ...................................................................................................................................... 19 

Three Inside Up ........................................................................................................................................... 19 

 

   

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RISK DISCLAIMER 

Transactions in forex, securities futures, commodity and index futures and options on futures carry a 

high degree of risk. The amount of initial margin is small relative to the value of the futures contract or 

forex lot, meaning that transactions are heavily "leveraged". A relatively small market movement will 

have a proportionately larger impact on the funds you have deposited or will have to deposit: this may 

work against you as well as for you. You may sustain a total loss of initial margin funds and any 

additional funds deposited with the clearing firm or forex counterparty to maintain your position. For 

futures trading, if the market moves against your position or margin levels are increased, you may be 

called upon to pay substantial additional funds on short notice to maintain your position. If you fail to 

comply with a request for additional funds within the time prescribed, your position may be liquidated 

at a loss and you will be liable for any resulting deficit. With forex trading, if the market moves against 

your position to the extent that you are under the required margins levels, most forex software will 

automatically liquidate your positions.  

 

Copyright © 2021 by GFFBrokers, Inc. All rights reserved. This e-book or any portion thereof may not be 

reproduced or used in any manner whatsoever without the express written permission of the publisher. 

   

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Introduction 

Candlestick Patterns: What They Indicate, What They ‘Tend’ to Do, and How Often They Occur 

The interpretation of candlestick patterns can often be more nuanced than it might at first seem. There 

are certain patterns that may seem highly indicative of a bullish or bearish outcome. You just “know” 

that the pattern is going to rise or fall. But reality would often betray what seems too likely. And 

unfortunately, what many candlestick pattern books won’t tell you is the historical odds of certain 

patterns, and how certain long‐standing patterns may have a historical tendency to do the opposite of 

what they indicate. 

So, that’s what we’re going to show you in this cheat sheet. 

Here’s a snapshot of thirty patterns. It’s important to understand the format of the presentation: 

 

● Pattern type means its “theoretical” directionality‐‐bullish, bearish, or neutral. 

 

● Historical accuracy refers to its historical performance. It’s important to note here that in 

practice, a pattern may go against its theoretical intention. For example, a bullish pattern may, 

in practice, yield bearish results more often than not, and vice versa. So, pay attention to this 

criterion.    

 

● Frequency is pretty straightforward‐‐it’s either low, moderate, or high in terms of its 

occurrence.  

 

   

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8 New Price Lines 

Pattern type: Bearish reversal 

Historical Accuracy: Bullish continuation 53% of 

the time 

Frequency: Moderate 

Note: This pattern is characterized by a series of 

higher highs (regardless of the candle’s color).  

 

 

 

 

10 New Price Lines 

Pattern type: Bearish reversal 

Historical Accuracy: 51% 

Frequency: Low 

 

 

 

 

 

12 New Price Lines 

Pattern type: Bearish 

reversal 

Historical Accuracy: Bullish 

continuation 51% of the time 

Frequency: Extremely Low 

 

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Above the Stomach 

Pattern type: Bullish reversal 

Historical Accuracy: 66% 

Frequency: High 

 

 

 

 

 

 

Below the Stomach 

Pattern type: Bearish reversal 

Historical Accuracy: 60% 

Frequency: Moderate 

 

 

 

   

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Belt Hold Bearish 

Pattern type: Bearish reversal 

Historical Accuracy: 68% 

Frequency: Low 

 

 

 

 

 

 

Belt Hold Bullish 

Pattern type: Bullish reversal 

Historical Accuracy: 71% 

Frequency: High 

 

   

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Breakaway ‐ Bearish 

Pattern type: Bearish reversal 

Historical Accuracy: 63% 

Frequency: Rare 

 

 

 

 

 

 

 

Breakaway ‐ Bullish 

Pattern type: Bullish reversal 

Historical Accuracy: 59% 

Frequency: Extremely Low 

   

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Doji Star ‐ Bullish 

Pattern type: Bullish reversal 

Historical Accuracy: Bearish continuation 64% of the time 

Frequency: Moderate 

 

 

 

 

 

 

 

Doji Star ‐ Bearish 

Pattern type: Bearish reversal 

Historical Accuracy: Bullish continuation 69% of 

the time 

Frequency: Moderate 

   

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Harami ‐ Bearish 

Pattern type: Bearish reversal 

Historical Accuracy: Bullish continuation 53% of the time 

Frequency: High 

 

 

 

 

 

 

Harami ‐ Bullish 

Pattern type: Bullish reversal 

Historical Accuracy: 53% 

Frequency: High 

 

   

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Engulfing ‐ Bullish  

Pattern type: Bullish reversal 

Historical Accuracy: 63% 

Frequency: High 

 

 

 

 

 

 

Engulfing ‐ Bearish 

Pattern type: Bearish reversal 

Historical Accuracy: 79% 

Frequency: High 

   

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Separating Lines ‐ Bullish  

Pattern type: Bullish continuation 

Historical Accuracy: 72% 

Frequency: Low 

 

 

 

 

 

 

 

 

Separating Lines ‐ Bearish 

Pattern type: Bearish continuation 

Historical Accuracy: 63% 

Frequency: Low 

   

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Dark Cloud Cover 

Pattern type: Bearish reversal 

Historical Accuracy: 60% 

Frequency: Moderate 

 

 

 

 

 

 

 

Deliberation 

Pattern type: Bearish reversal 

Historical Accuracy: Bullish continuation 77% of 

the time 

Frequency: Moderate 

   

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Doji ‐ Dragonfly 

Pattern type: Bullish reversal in a decline; otherwise it signals 

indecision 

Historical Accuracy: Reversal 50% of the time 

Frequency: Moderate 

 

 

 

 

Doji ‐ Gap Down 

Pattern type: Bearish continuation 

Historical Accuracy: Bullish reversal 56% of the time 

Frequency: Moderate 

 

 

 

 

 

Doji ‐ Gap Up 

Pattern type: Bullish continuation 

Historical Accuracy: Bearish reversal 57% of the time 

Frequency: Moderate 

   

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Doji ‐ Gravestone 

Pattern type: Bearish if trend is up, otherwise it signals 

indecisions 

Historical Accuracy: Bearish reversal 51% of the time 

Frequency: Moderate 

 

 

 

 

 

Doji ‐ Long Legged 

Pattern type: Indecision 

Historical Accuracy: Bullish continuation 51% of the time 

Frequency: Moderate 

 

 

 

 

 

Hanging Man 

Pattern type: Bearish reversal 

Historical Accuracy: Bullish continuation 59% of the time 

Frequency: High 

   

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Kicking ‐ Bullish 

Pattern type: Bullish reversal 

Historical Accuracy: 53% 

Frequency: Rare 

 

 

 

 

 

 

 

 

Kicking ‐ Bearish 

Pattern type: Bearish reversal 

Historical Accuracy: 54% 

Frequency: Rare 

   

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Meeting Lines ‐ Bullish 

Pattern type: Bullish reversal 

Historical Accuracy: 56% 

Frequency: Low 

 

 

 

 

 

 

 

 

Meeting Lines ‐ Bearish 

Pattern type: Bearish reversal 

Historical Accuracy: Bullish continuation 

51% of the time 

Frequency: Low 

   

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Piercing Pattern 

Pattern type: Bullish reversal 

Historical Accuracy: 64% 

Frequency: Moderate 

 

 

 

 

 

 

Takuri Line 

Pattern type: Bullish reversal 

Historical Accuracy: 66% 

Frequency: High 

 

 

 

 

 

Three Black Crows 

Pattern type: Bearish reversal 

Historical Accuracy: 78% 

Frequency: Moderate 

   

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Three Inside Down 

Pattern type: Bearish reversal 

Historical Accuracy: 60% 

Frequency: High 

 

 

 

 

 

 

 

 

Three Inside Up 

Pattern type: Bullish reversal 

Historical Accuracy: 65% 

Frequency: High 

   

Page 21: A Candlestick Pattern Cheat Sheet - GFF Brokers...4 Introduction Candlestick Patterns: What They Indicate, What They ‘Tend’ to Do, and How Often They Occur The interpretation of

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Index 

8 New Price Lines, 5 

10 New Price Lines, 5 

12 New Price Lines, 5 

Above the Stomach, 6 

Below the Stomach, 6 

Belt Hold Bearish, 7 

Belt Hold Bullish, 7 

Breakaway ‐ Bearish, 8 

Breakaway ‐ Bullish, 8 

Doji Star ‐ Bullish, 9 

Doji Star ‐ Bearish, 9 

Harami ‐ Bearish, 10 

Harami ‐ Bullish, 10 

Engulfing ‐ Bullish, 11 

Engulfing ‐ Bearish, 11 

Separating Lines ‐ Bullish, 12 

Separating Lines ‐ Bearish, 12 

Dark Cloud Cover, 13 

Deliberation, 13 

Doji ‐ Dragonfly, 14 

Doji ‐ Gap Down, 14 

Doji ‐ Gap Up, 14 

Doji ‐ Gravestone, 15 

Doji ‐ Long Legged, 15 

Hanging Man, 15 

Kicking ‐ Bullish, 16 

Kicking ‐ Bearish, 16 

 

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Meeting Lines ‐ Bullish, 17 

Meeting Lines ‐ Bearish, 17 

Piercing Pattern, 18 

Takuri Line, 18 

Three Black Crows, 18 

Three Inside Down, 19 

Three Inside Up, 19 

   

   

   

   

   

   

   

   

   

   

   

   

   

 


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