Learn about popular candlestick patterns to improve trading accuracy. Includes Spinning tops, White Marubozu, Black Marubozu, Hammer, Hanging Man, Doji and many more popular trading candlestick patterns !
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What are candlestick patterns in binary options, forex or crypto trading ?
It is a method invented by Japanese traders when trading rice several decades ago but it seems to fit nicely in to currency trading too. When a higher time framework ( 1hr onwards ) chart shows up these patterns, It is likely to result in a reversal in pricing or continuation in pricing.
How accurate is candlestick patterns in binary options, forex or crypto trading ?
Well it is generally accurate but in trading nothing is 100% perfect. Higher the time framework higher the accuracy. So candlestick pattern success rate can be around 60% - 90% depending on the type of currency, time, time framework, economic related news etc. So use candlestick pattern as one of the instruments to improve accuracy of your analysis when entering a trade.
What are the popular candlestick patterns ?
Hammer, inverted hammer, shooting star, hanging man, Spinning Tops and doji are some popular candlestick patterns. You can see the below screenshot ( Click on image to ZOOM ) to learn about all common patterns to improve your trading experience.