There are countless ways to use candlestick patterns with different types of characters. Various patterns have been shown to give a certain probability of price action in an instrument. You can combine such patterns with technical analysis to further improve your thesis. A simple cheat sheet of some of the most commonly used patterns with candlesticks can be found below:

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As you can see from the image above candlestick - charts are defined as bullish or bearish based on whether they show similarity to any of the patterns above. These are patterns many traders use together with their technical analysis as a part of their indicators to see if an instrument meets their investment criteria or not. You may therefore want to look for some of these patterns in the instrument you are following. This is because such patterns tend to be "self-fulfilling" when enough players in the market use them.

A more detailed explanation of each of these patterns, as well as strategies around this, can be found by following these links:


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