The Hanging Man is a bearish reversal pattern appearing at the culmination of an uptrend. It is characterized by a small real body, a long lower shadow (also known as a wick or tail), and a minimal or non-existent upper shadow.
A shooting star candlestick is a unique candlestick pattern predominantly found at the peak of an upward trending market. It is a bearish reversal pattern that indicates a potential shift in market dynamics.
The appearance of an inverted hammer implies that the price was driven upwards during the day but met with resistance, causing it to fall and close near the opening price. This pattern shows the struggle between bulls and bears in the market, with the bulls trying to drive prices up and the bears resisting this upward movement.
A hammer candlestick pattern is a technical chart pattern that signals potential reversals in price trends. It resembles the shape of a hammer or the alphabet ‘T’, hence the name. This pattern is considered a bullish signal and typically appears at the end of a downtrend, indicating that the market could be nearing a bottom.
A spinning top is a type of candlestick pattern that signifies market indecision or a balance of forces. It is characterized by a short, compact body situated between two long wicks. The main feature of this pattern is that it reflects an equal opening and closing, hinting at a lack of clear direction in the market at the time.
A Doji candlestick pattern, often termed a Doji star, is a graphical representation of market indecision. It forms when an asset’s opening and closing prices are almost identical. This scenario indicates a standoff between buyers and sellers, with neither party able to secure a decisive victory.