Harami is the next double candlestick pattern in this section. In Hindi the word may have a different meaning but in Japanese Harami means ‘pregnant’. It is so called because of the shape/size of the two candles. The first candle with wider body is called the mother candle which contains a second small body baby…
The third multiple candlestick pattern that we are going to discuss in this section is Dark Cloud Cover (DCC). It is the reverse of a piercing pattern. A piercing pattern is a bottom reversal pattern but DCC is a top reversal pattern. It can be more commonly observed on charts compared to piercing pattern. In…
This is the second multi-candlestick pattern that is going to be discussed in this section. This pattern is made up of two opposite colored candles sitting next to each other. I call it a sister pattern to bullish engulfing pattern in which the second candle entirely covers the body of its prior candle. Piercing has…
This is the first two-candle pattern that is going to be discussed in this section. It comprises two candles of opposite color where one candle’s body completely covers or engulfs its previous candle’s body. Thus, for the completion of this pattern we need eight data points, that is open, high, low and close of both…
In the previous section we studied single candlestick patterns, where buy or sell decisions were based upon a single candle like a Hammer or a Doji candle. In this section you will learn multiple candlestick patterns. As the name suggests, these patterns comprise two or more candlesticks to generate a signal.
Marubozu means bald headed. It simply means that it has no price action above or below the open and closing prices. It looks like a formation obtained from only two data points that is, open and close. But in reality there are four data points – open, high, low and close – like any other…
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