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Dan Gramza coined the phrase “A Trader’s Footprint” in looking at candlesticks patterns and understanding their meaning and activity for the purposes of short-term trading.
A 'live' example of a piercing line japanese candlestick pattern. This is one of the technical analysis tools to use in your stock trading strategies
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Traders who are just beginning to get a handle on how the markets move, focus on the range pattern; one of the most popular price patterns in technical analysis. In a range, the price bounces from a lower horizontal line (support) and rebounds back down from an upper horizontal line (resistance). This creates a sideways or “trend-less” price movement, which is very appealing even for advanced traders, because when a trader looks at the range in hindsight or on paper, it looks like a very easy way to make money.
As long as this sideways price movement stays consistent, traders might potentially increase their profits by going long around the support area and short around the resistance area.
An experienced trader knows it’s not enough to trade only when prices reach support and resistance lines, most of the time additional confirmation is needed. In this situation, reversal candlestick patterns can be very effective to help confirm movements, and it’s something advanced traders will pay close attention to.
Here are some examples.
The Hammer As a very popular bullish reversal candlestick, the hammer consists of a small body in two colours (black or white), and a lower shadow that’s 2–3 times bigger than the body. The upper shadow is tiny or non-existent.
A hammer near the support line will signal a buy alert — a buy signal is triggered once the price exceeds the high of the candlestick. A protective stop-loss can be placed under the support line and similarly, a take profit order can be placed at the resistance level.
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Rosenthal Studio-Line – Crystal Candlesticks ($40 for pair)
Pair of crystal candlesticks
Pattern: Schneeblume (Snow flower)
Large: 9.25” H x 3.75” diameter
Small: 8” H x 3.75” diameter
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About Candlestick Patterns
Candlestick patterns were created centuries ago, around about the 18th century by Munehisa Homma. He was a rice trader on the financial markets. People began to take notice of Homma after he successfully executed over one hundred winning trades i...
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Rosenthal Studio-Line – Crystal Candlesticks ($40 for pair)
Pair of crystal candlesticks
Pattern: Schneeblume (Snow flower)
Large: 9.25” H x 3.75” diameter
Small: 8” H x 3.75” diameter
This infographic explains the basic difference between candlestick and chart patterns in the simplest way possible. Candlesticks help you spot quick price signals; chart patterns show bigger trend movements. If you’re starting out in trading, this is something worth saving for regular revision. For more info tap here: blog.elearnmarkets.com/candlestick-pattern-and-chart-patt...
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The candlestick is used to identify trading patterns. These patterns help the technical analyst to set up a profitable trade. The patterns are formed by a grouping of two or more candles in a certain sequence. Sometimes powerful trading signals can be identified by just a single candlestick pattern.
The Hourly View for GOOGL
Last Updated December 11, 2020, 12:24 GMT
At the time of this writing, GOOGL’s price is down $-18.89 (-1.06%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on GOOGL. Given that we see downtrend on the 20 and 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. Of note is that the 100 hour changed directions on GOOGL; it is now pointing up. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50 and 100 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.
Alphabet Inc Daily Price Recap
Alphabet Inc closed the day prior down 0.57% ($10.21); this denotes the 4th consecutive day a decline has happened. This move happened on lower volume, as yesterday’s volume was down 9.58% from the day before — and down 22.96% from the same day the week before. The daily price chart of Alphabet Inc below illustrates.
Alphabet Inc Technical Analysis
Moving average crossovers are always interesting, so let’s start there: Alphabet Inc crossed below its 20 day moving average yesterday. bit.ly/3ne3AWK
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What sets
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