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Cheat Sheet Candlesticks

Candlestick patterns provide important signals when they form at key support or resistance levels or Fibonacci retracement levels during an uptrend or downtrend. Doji candlesticks indicate a reversal or pause in the prevailing trend, while hammers signal potential bullish reversals at support and inverted hammers/shooting stars signal bearish reversals at resistance. Marubozu candles show strong bullish or bearish momentum when prices break out of the candle's range. Candlestick patterns work best on higher timeframes for stocks and 15 minutes or above for indexes.

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627 views1 page

Cheat Sheet Candlesticks

Candlestick patterns provide important signals when they form at key support or resistance levels or Fibonacci retracement levels during an uptrend or downtrend. Doji candlesticks indicate a reversal or pause in the prevailing trend, while hammers signal potential bullish reversals at support and inverted hammers/shooting stars signal bearish reversals at resistance. Marubozu candles show strong bullish or bearish momentum when prices break out of the candle's range. Candlestick patterns work best on higher timeframes for stocks and 15 minutes or above for indexes.

Uploaded by

RaviVerma
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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CHEAT SHEET

CANDLESTICKS
One Page Cheat Sheet for all Candlesticks Scenarios

WHEN TO GIVE IMPORTANCE ?


You need to give importance to Candlestick ONLY if they are
forming after :
Uptrend Or Downtrend
At Important Support Or Resistance
At Important Fibo levels [ 50%, 61.8% ]

AT SUPPORT OR RESISTANCE BOTH

DOJI CANDLESTICK
Common Doji can be used at Support/ Resistance or after
GRAVESTONE DOJI an Uptrend/ Downtrend.
COMMON DOJI
DragonFly Doji Importance ONLY to be given at support or
after a downtrend. NOT at Resistance or Uptrend
GraveStone Doji Importance ONLY to be given if forming at
ONLY AT RESISTANCE / DOWNTREND
Resistance or after an Uptrend. NOT at Support or after
Downtrend.
Doji candlesticks act as Trend reversal or Pause in Ongoing
ONLY AT SUPPORTS/ DOWNTREND
DRAGONFLY DOJI Trend.

HAMMER CANDLESTICK
HAMMER Importance ONLY to be given at SUPPORT not at
BEARISH @ RESISTANCE
RESISTANCE as less accurate.
INVERTED HAMMER Importance ONLY to be given at
INVERTED HAMMER OR
SHOOTING STAR RESISTANCE not at SUPPORT as less accurate.
HAMMER OR HANGING MAN Don't get confused by the various names of hammers
BULLISH @ SUPPORT
available out there, just remember these two you will be
good.
Small negligible Wicks are still ok to consider them as
hammers. For eg

MARUBOZU CANDLESTICK
NEGLIBLE WICKS can still be considered at Marubozu
Candles.
Green means Bulls are strong and Price when breakouts
from this candle's range we can see a trending move.
Red means Bears are strong and Price when breakouts
from this candle's range we can see a trending move
BULLISH MARUBOZU BEARISH MARUBOZU
Which ever side the range breakout happens we will see a
trending move that side.

Pro Trading Tip


These candlesticks work better on higher Timeframes on
Stocks [Hourly & above]. For Index it works nicely on 15 mins
and above.

NIL NIL

NOTE: This Cheat Sheet is for your Eyes only. Kindly don't share it with anyone or else Shraap
Lagega and saare trades main SL hit Hoyenge aapke.

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