You can, however, also use them to manage your open trades, including using them for take-profit targets and stop-loss points. Most traders use candlestick patterns as entry signals. There are both bullish and bearish candlestick patterns, and in this post, we go through both types and how you can use them. Most traders who use candlestick patterns look at these patterns as signals to buy or sell. This can lead to high probability trades. Technical analysis and pattern traders look to these patterns because they believe they can show the times when the bulls or bears are in control. They are called candlestick patterns because they are formed on candlestick charts and form a repeatable pattern.
Japanese candlestick patterns are price action formations you can use to predict where the future price may go. List of 35 Powerful Candlesticks Patterns.
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