The Monster Guide to Candlestick Patterns.pdf

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The Monster Guide to Candlestick Patterns
Contents
About The Author..................................................................................................................................... 4
Introduction ............................................................................................................................................... 5
What Is A Candlestick Pattern? ............................................................................................................ 6
So, How Do You Read A Japanese Candlestick Chart?................................................................... 7
Bullish Reversal Candlestick Patterns ................................................................................................ 8
Hammer......................................................................................................................................................................... 8
Bullish Engulfing Pattern ....................................................................................................................................... 9
Piercing Pattern ....................................................................................................................................................... 10
Tweezer Bottom ...................................................................................................................................................... 10
Morning Star............................................................................................................................................................... 11
How To Find High Probability Bullish Reversal Setups ................................................................. 12
Morning Star: ............................................................................................................................................................. 12
Bullish Engulfing Pattern: .................................................................................................................................... 13
Bullish Engulfing Pattern: .................................................................................................................................... 13
Bearish Reversal Candlestick Patterns ............................................................................................. 14
Shooting Star ............................................................................................................................................................ 14
Bearish Engulfing Pattern ................................................................................................................................... 15
Dark Cloud Cover .................................................................................................................................................... 15
Tweezer Top .............................................................................................................................................................. 16
Evening Star .............................................................................................................................................................. 17
How To Find High Probability Bearish Reversal Setups ............................................................... 18
Bearish Engulfing Pattern: .................................................................................................................................. 18
Bearish Engulfing Pattern: .................................................................................................................................. 19
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The Monster Guide to Candlestick Patterns
Shooting Star: ........................................................................................................................................................... 19
Indecision Candlestick Patterns .........................................................................................................20
Spinning Top ............................................................................................................................................................ 20
Doji................................................................................................................................................................................. 21
Continuation Candlestick Patterns ................................................................................................... 23
Rising Three Method ............................................................................................................................................. 23
Falling Three Method ........................................................................................................................................... 24
Bullish Harami ......................................................................................................................................................... 25
Bearish Harami........................................................................................................................................................ 26
How To Find High Probability Trend Continuation Setups..........................................................28
A Variation Of The Falling Three Method On USD/ZAR: ..................................................................... 28
Rising Three Method And Bullish Harami On EUR/USD: ...................................................................... 29
Candlestick Patterns Cheat Sheet: How To Understand Any Candlestick Pattern Without
Memorizing A Single One .....................................................................................................................30
1. The Color Of The Body Tells You Who’s In Control............................................................................. 30
2. The Length Of The Wick Represents Price Rejection ......................................................................... 31
3. The Ratio Of The Body To The Wick Tells You The “Whole Story”............................................. 32
So, What’s Next? .....................................................................................................................................34
Do You Want More Stuff Like This? ...................................................................................................34
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The Monster Guide to Candlestick Patterns
About the Author
Hi, my name is Rayner Teo.
I’m not a multi-millionaire trader, I don’t drive fancy cars, and I don’t live in a
penthouse.
But I am an independent trader, an ex-prop trader, and the founder of
TradingwithRayner.
I specialize in studying great research (from people much more qualified than me)
and applying it to the real-world of trading to find out what works and what doesn’t.
And finally, share them with traders like you so you can become a consistently
profitable trader.
Cheers,
Rayner Teo
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The Monster Guide to Candlestick Patterns
Introduction
Here’s the thing:
There are many ways to read a chart.
You can use Japanese Candlestick Patterns, Renko, Bar, Line, Heikin Ashi, Point &
Figure, and etc.
You’re probably wondering:
“Which one should I use?”
Well…
If you ask me, the most popular approach is…
Candlestick Patterns.
Why?
Because it’s easy to learn — and it works.
That’s why I’ve created this monster guide to teach you everything you need to know
about candlestick patterns (and how to trade it like a pro).
Here’s what you’ll learn:
•
•
•
•
•
•
•
•
•
What is a candlestick pattern and how to read it correctly
Bullish reversal candlestick patterns
How to find high probability bullish reversal setups
Bearish reversal candlestick patterns
How to find high probability bearish reversal setups
Indecision candlestick patterns
Trend continuation candlestick patterns
How to find high probability trend continuation setups
Candlestick cheat sheet: How to understand any candlestick pattern without
memorizing a single one
Now…
This is an extensive guide on candlestick patterns (with 3781 words).
So, take your time to digest the materials and come back to it whenever you need a
refresher. Now let’s begin!
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