Tutorial series for forex beginner!(Part 2) To learn how to read K-line in 3 mins!

Six Bullish Candlestick Patterns.

A candlestick is used to display the trend of an assets price.

This article focuses on six bullish candlestick patterns you need to know, these six patterns are very common and you will use them very often in forex trading analysis.

You can capture bullish signals from one K-line, combined K-line and 3 combined k-line.

Hammer

It often appears in the downtrend. Generally, the real body is very small with no upper wick line, but the lower wick line is very long. A hammer shows that even though the selling pressure was huge, a stronger buying pressure ultimately drove the price back up, and it indicates that the next trading day is bullish. The colour of the body can vary, but green hammers indicate a stronger bull market than red hammers.

Inverse hammer

The upper wick is long and lower wick is short, suggesting that the price rose to a high position earlier that day, but fell at the close. It shows that more people made profits than losses on that day, followed by a selling pressure that was not strong enough to drive the market price down. The inverse hammer suggests that buyers will soon have control of the market.

Bullish engulfing

The green candlestick‘s closing price is twice as high as the red candlestick’s opening price. This kind of combined K-line is known as an “engulfing” pattern, indicating an upward trend on the third day. Even though the greens opening price lower than the first, the bullish market pushes the price up, culminating in an obvious win for buyers.

Piercing line

A bearish line on the first day, and a bullish line on the second, with the greens closing price rising above the level half of the red real body. It indicates a strong buying pressure, as the price is pushed up to or above the mid-price of the previous day.

Morning star

The morning star candlestick usually combines three days K-line: a bearish line on the first day, a line with opening price close to closing price on the second, and a bullish line on the third. The morning star which is a classic pattern in forex signals that the selling pressure of the first day is subsiding, and a bull market is on the rise.

Three white soldiers

There has been a decline for several days in a row. Normally more than three days. Then this pattern of three consecutive rising k-lines appears, with opening and closing prices progressively higher than the previous day. It is a very strong bullish signal that occurs after a downtrend, and shows a steady advance of buying pressure.

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