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Daily Market Analysis Daily Strategy Analysis (Live FxAlerts)3 Candle Patterns ContinuedMarcello Ducille’s Underground System DemonstrationQuestion & Answer Session

Forex Candlesticks

There are a nearly infinite number of chart patterns with an equally long dictionary of nomenclature, but among the most commonly recognized are the essentials of Japanese candlesticks. We have covered a few of these, continuing today with a more 3-candlestick patterns.

Courtesy of google images

Stick Sandwich

The Stick Sandwich is considered a bullish reversal pattern with two black bodies surrounding a white body. The closing prices of the two black bodies must be equal or very near equal. A support price is then interpreted as apparent and the opportunity for prices to reverse is considered highly probable.

Courtesy of google images

Upside and Downside Tasuki Gap

The Upside Tasuki Gap is a continuation pattern with a long white body followed by another white body that has gapped above the 1st candle. The 3rd candle is black and opens within the body of the 2nd candle, then closes in the gap between the first two candles, but does not close the gap.

The Downside Tasuki Gap is the inverse of this pattern.

Courtesy of google images

Upside Gap 2 Crows

A three day bearish pattern that only happens in an uptrend. 1st day is a long white body followed by a gapped open with the small black body remaining gapped above the 1st day. 3rd day is also a black day whose body is larger than the 2nd day and engulfs it. The close of the last day is still above the 1st long white day.

Courtesy of google images

Closing Notes

As you can see the candlestick formations and interpretations are endless. Again, the key is to find what works, test it thoroughly and stick to it!

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