Gabrielle W

Follow me on Instagram @thechartwhisperers

December 13, 2019

 

A Month of Candlestick and Chart Patterns

 

Welcome to week two of Candle Stick and Chart Patterns. This week I will be going over the Three White Soldiers pattern and the Double Top/Double Bottom pattern. You'll learn how to spot them and what they mean. 

Three White Soldiers

3 candle pattern consisting of consecutive long green candles with small wicks that open and close progressively higher than the previous day.

 

While not seen very often, this pattern is a very bullish signal, showing a steady increase of buying pressure.

 

Theory

Practice

Want alerts on the Three white Soldiers pattern? Click here.

Double Top

A double top is an extremely bearish reversal pattern that’s seen after an asset reaches a high price two consecutive times with a moderate decline between the two highs. Confirmation comes once the asset's price falls below a support level equal to the low between the two prior highs.

 

Double Bottom

A double bottom pattern is a bullish reversal pattern seen when there is a drop of an asset price, a rebound, another drop to the same or similar level as the original drop, and finally another rebound that reverses the market to bullish sentiment. (Opposite of a double top)

 

 

Theory

Practice

Want to learn how to trade double tops and bottoms? Click here.