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Bullish Candlestick Patterns Cheat Sheet (DRAFT) by

Bullish Candlestick Patterns #248507

This is a draft cheat sheet. It is a work in progress and is not finished yet.

Bullish Candle Patterns

Plain Bullish Candle
Hammer
Bullish Piercing
Bullish Engulf
Morning Star

Hammer

--> Hammer Candle­stick pattern typically has a small body and a long lower wick/s­hadow. The lower wick/s­hadow is generally 2-3 times of the body.

--> They are considered as a potential bullish reversal sign when found at the bottom of a down-t­rend.

Hammer Example

 

Bullish Piercing

--> Bullish Piercing is a two candle­stick pattern where the first candle is a normal bearish candle and the second candle is a bullish candle.

--> In Ideal situations the second candle opens with a gap-down however, it can also open at the same level as the close of the bearish candle.

--> Most import­antly, the bullish should close above the median of the bearish candle.

Bullish Piercing Example

Bullish Engulf

--> Bullish Engulf is a two candle­stick pattern where the first candle is a normal bearish candle and the second candle is a bullish candle.

--> In ideal situations the second candle opens with a gap-down however, it can also open at the same level as the close of the bearish candle and it should close above the open of the first bearish candle thereby, engulfing it.
 

Bullish Engulf

Morning Star

--> Morning Star is a 3 candle­-stick pattern where the first candle is a normal bearish candle.

--> The second candle, typically, is a neutral candle­-stick pattern that opens with a gap-down whose low will mostly be lower as compared to the low of the first bearish candle (color of the neutral candle doesn't matter).

--> The third candle is a bullish candle which opens with a gap-up and closes above the median of the first bearish candle.

Morning Star