Single Candle Patterns
Lesson 1 of 1010 min6 exercises
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The Building Blocks
Single candle patterns are the foundation of candlestick analysis. Each one tells a story about the battle between buyers and sellers during that period.
DOJI - The Indecision Candle
What it means: Perfect indecision. Buyers and sellers fought to a draw.
Signal: Potential reversal, especially at support/resistance.
Variations:
- Long-legged Doji: Long wicks both ways - extreme indecision
- Dragonfly Doji: Long lower wick, no upper - bullish
- Gravestone Doji: Long upper wick, no lower - bearish
Signal: Potential reversal, especially at support/resistance.
Variations:
- Long-legged Doji: Long wicks both ways - extreme indecision
- Dragonfly Doji: Long lower wick, no upper - bullish
- Gravestone Doji: Long upper wick, no lower - bearish
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HAMMER - The Bullish Reversal
What it means: Sellers pushed price down hard, but buyers fought back and closed near the high.
Signal: Bullish reversal after a downtrend.
Nickname: "The Hangman's Revenge"
Signal: Bullish reversal after a downtrend.
Nickname: "The Hangman's Revenge"
INVERTED HAMMER
What it means: Buyers tried to push up but sellers pushed back. Still bullish because buyers showed interest.
Signal: Bullish, but needs confirmation.
Signal: Bullish, but needs confirmation.
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SHOOTING STAR - The Bearish Reversal
What it means: Buyers pushed up hard, but sellers slammed it back down. Upper wick = rejected prices.
Signal: Bearish reversal after uptrend.
Nickname: "Meteor" or "Falling Star"
Signal: Bearish reversal after uptrend.
Nickname: "Meteor" or "Falling Star"
HANGING MAN
What it means: Looks like a Hammer but appears in an UPTREND. The long lower wick shows sellers are starting to appear.
Signal: Bearish warning - potential reversal coming.
Signal: Bearish warning - potential reversal coming.
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MARUBOZU - Pure Momentum
Bullish marubozu opens at the low and closes at the high; bearish marubozu opens at the high and closes at the low. Neither has wicks.
What it means: Open = Low (bullish) or Open = High (bearish). Pure conviction with no rejection.
Signal: Strong continuation. Buyers/sellers in complete control.
Nickname: "Bald candle" or "Clean sweep"
Signal: Strong continuation. Buyers/sellers in complete control.
Nickname: "Bald candle" or "Clean sweep"
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SPINNING TOP
Spinning top: a tiny body with long wicks on both sides, showing indecision.
What it means: Similar to Doji but with a small body. Shows indecision and potential trend weakness.
Signal: Neutral - watch for follow-through.
Signal: Neutral - watch for follow-through.
Tip
Single candle patterns are more reliable when they appear at key support/resistance levels or after extended moves.
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Key takeaways
- Doji = indecision, Hammer = bullish reversal, Shooting Star = bearish reversal
- Marubozu = pure momentum with no wicks
- Context matters - same pattern means different things in different trends
- Always wait for confirmation on the next candle
Next: 6 quick exercises. Miss one and it comes back at the end.