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Six bearish candlestick patterns

Bearish candlesticks form an upward trend or prices rise slightly. They indicate that prices are about to turn or continue to fall.

Here are some of the most common forms of bearish candlesticks:

Shooting star

The “star”candlestick has a smaller body at the lower end of the trading range and a longer candle wick at the upper end. It is formed in an upward trend, indicating that buyers are trying to push prices up, but sellers step in to bring prices down to near the opening price. The “star” candlestick indicates that the sellers are ready to take control in the following period of time.

Hanging man

The hanging candlestick has a small figure at the top of the trading range, while the lower candlestick is very long. It is formed in an upward trend, indicating that the sellers are trying to hold down the price, but the buyers intervene to support the price rise. However, the buyers can only push it up close to the opening price. As a result, the person who hanged himself signaled that the number of sellers exceeded that of buyers, and that the price is likely to be under pressure in the following period of time.

Bearish engulfing

The bearish swallowing pattern is the 2-candle shape that will be formed in the upward trend. The first candlestick is bullish and the second candlestick is bearish, which will “engulf” the main body of the first candlestick. The bearish swallowing pattern indicates that the buyers pushed the price higher during the first candlestick, but the sellers pushed the price higher during the second candlestick, thus driving the price down beyond the low point of the first candlestick.

Here are some of the most common forms of bearish triple candlesticks:

Evening star

The evening star is in the shape of three candles, formed on an upward trend, as shown below: the first candle is bullish; the second candle is smaller, the third candle is weaker, and the closing price is above the midpoint of the first candle. The stars at night indicate that the buyers were in control during the first candlestick and hesitant during the second candlestick. The sellers ended up in charge of the third candlestick and kept the price down.

Three black crows

When there are three consecutive bearish candlesticks on the market, three black crows are formed. Each candlestick is opened in the body of the previous candlestick and closed at a price that exceeds its low price. The first candlestick is called reverse candlestick, and the next two candlesticks confirm the bearish momentum of the market.

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