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This a Forex Candlestick Patterns Course + Cheat Sheet Video by Forex Elite.com. preview of our Forex Candlestick Patterns Cheat Sheet. 

What's missing, are the labels to all of these patterns.  And that's exactly what we're going to cover in this course. 

We'll go through each one of these patterns, one by one, we'll label them, and we'll explain them in more detail. a complete version and understanding of Forex Candlestick Patterns. So with that being, let's get started! First things first.

 Candlestick Anatomy. It's important for you to know the anatomy of a candlestick, because it will help you understand the patterns better. The variations of the Candlestick Anatomy creates the variations of the patterns themselves.

 So take a good look at the Candlestick Anatomy on the screen right now. It's important to know the components to a candlestick.

 As you can see in this illustration, the Bullish and Bearish Candlesticks both include a High, an Upper Shadow, an Open and Close, the Body, the Lower Shadow, and the Low. 

These are the fundamental elements that comprise a candlestick. And the patterns are simply a variation of these elements. Now, let's discuss Neutral Candlestick Patterns. This includes the Doji and the Spinning Top.

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 The Doji Candlestick pattern has an upper and lower shadow, with either a very small body, or no real body. 

The distinguishing characteristic of the Doji Candlestick is that it has approximately the same Open and Close, which creates no real body, or a very small body, as you can see in this illustration.

 In even more simple terms, there is no green or red in the Doji, because the Open and Close were approximately the same. The second Neutral Candlestick Pattern is the Spinning Top. 

This pattern has a small Body, and the body is usually centered between the upper and lower shadows. other, and therefore the body is small. Also, the body is somewhere around the middle of the upper and lower shadows. 

Now let's discuss Bullish Candlestick Patterns. The first one here is the Hammer. This pattern was appropriately given its name because it really looks like a hammer.

 The Hammer Candlestick Pattern has a small body, a long lower shadow, and a small to no upper shadow.

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Also, the long lower shadow is usually at least twice the size of the body. Inverted Hammer. As the name suggests, this pattern is an inverted version of the previous Hammer Candlestick Pattern we just discussed. 

The Inverted Hammer has a small body as well, but a long upper shadow. This upper shadow is usually at least twice the size of the body. This pattern also usually does not have a lower shadow.

 If it does have a lower shadow, it's usually very small. However, typically, no lower shadow. The main thing is that the Inverted Hammer that's usually twice the size of the body. Dragonfly Doji. 

As the name suggests, this pattern resembles a dragonfly. More specifically though, the high, the open, and the close, are the same.

 Followed by a long lower shadow. In a simpler form, The Dragonfly Doji usually looks like the Letter "T". Long Lower Shadow. No Body. 

High, Open and Close are the same. Bullish Engulfing. In a Bullish Engulfing pattern, the body of the Bullish Green candlestick completely engulfs, the body of the Red Bearish candlestick. 

In this illustration, the body of the Green candlestick engulfs the body of the Red candlestick. This is known as the Bullish Engulfing Candlestick Pattern. Bullish Green engulfs Bearish Red. 

Piercing Line. The Piercing Line pattern is similar to the previous Bullish Engulfing pattern that we discussed. Except, that the Bullish Green candlestick doesn't engulf the Bearish Red candlestick.

 However, the close of the Bullish Green candlestick is above the midpoint of the body of Bearish Red candlestick. The key element to this pattern is the close of the Green candlestick, above the midpoint, of the Red candlestick.

 The Bullish Green doesn't completely engulf the Bearish Red. But the close of the Bullish Green is above the midpoint of the Bearish Red body. 

That's the main thing about the Piercing Line. The close of the green candlestick is above the midpoint of the body of the red candlestick.

 Morning Star. The Morning Star pattern is a Bullish Candlestick Pattern. It consists of three candlesticks. The first is a large Bearish Red candlestick. Followed by a candlestick with a small body. 

Followed by a large Bullish Green candlestick. These 3 candlesticks are known as the Morning Star pattern. Large Red. Small Middle. Large Green. Morning Doji Star. This pattern is a slight variation of the previous Morning Star pattern.

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 The key difference is in the middle candlestick. With the previous Morning Star pattern, the middle candlestick had a small body. In this pattern, the middle candlestick is a doji. Hence the name, Morning Doji Star.

 Again, we have a large Bearish Red Candlestick, followed by a smaller candlestick.

 In this case, the smaller candlestick is a doji, with no real body. Followed by a large bullish green candlestick. These 3 candlesticks are known as the Morning Doji Star pattern. Large Red. Doji.

 Large Green. Three White Soldiers. Three white soldiers is a bullish candlestick pattern that consists of 3, consecutive, medium to large bodied, Bullish Green candlesticks.

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The 3 candlesticks usually don't have long upper or lower shadows. Again, the 3 bodies are medium to large.

 In other words, no small bodies. Fairly straightforward pattern. 3 Consecutive Greens. Now let's discuss some Bearish Candlestick Patterns.

 The first on our list is the Shooting Star. The distinguishing feature of a Shooting Star is a Long Upper Shadow, a small to no lower shadow, and a small body. 

Also, the long upper shadow is usually at least twice the size of the body.

 

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