I decided for the sake of organization, to split my technical analysis articles so the forum members can access them by topic instead of having to go through the whole article.
So in this post, I want to continue the discussion of candlestick charts and their patterns.
Here are some very significant candlestick patterns you may encounter:
Piercing Line 
This indicates that sellers are losing their dominance, hence this pattern is also called Bullish Reversal.
Dark Cloud Cover 
The presence of this pattern also known as the Bearish pattern is indicative of a slowdown in the momentum of the buyers.
Shooting Star 
This particular reversal pattern happens following gaps where buyers are able to attain but not sustain new highs. Another pattern called Reverse Hammer has the same signal but with a much longer wick.
Harami 
This pattern which may either be bullish or bearish depending on the current trend, is indicative of a trend slowing down and possibly reversing.
Evening Star
This is a reversal pattern which indicates that upon attaining new highs, a trend promptly reversed.
Morning Star
Another reversal pattern which indicates that upon attaining new lows, the trend reversed.
The important thing to remember here is that when you see these patterns in a chart and they are in agreement with other indicators such as moving averages and Fibonacci, then it may indicate an opportunity for a potentially good trade.
