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Step 4. Types of bullish candles
We've looked at the composition of the candles in the previous sections.
Today, we're going to classify the types of bullish candles based on their shapes.
First, it's a hammer-type candle.
It's a candle that went down to low prices and then went up.
The shape has a tail only on the bottom.
If these candles came out of the low point, you can expect a trend shift to an upward trend.
The shorter the body and the longer the tail, the more reliable the candle is.
Next is the reverse hammer type candle.
Although it is a bullish candle, it is a candle that is bent at the end and left the upper tail.
The shorter the torso and longer the tail, the higher the probability that the next move will be a drop.
Conversely, the longer the torso and shorter the tail, the stronger the upward force, so the next is the higher the probability of ascending.
The length of the tail and body is important.
Lastly, it's "a long-stick candle".
The shape itself is simple, but it's a beekeeping candle with only the body without the top and bottom tails.
In general, there's a very strong upward trend in the process of these cans appearing, and the longer the torso, the greater the amount of upward movement, so it exerts a greater influence.
Today, we've looked at a typical type of bullish candle, and the shape of the candle is very important because it represents the power to move up and down.
When you look at the shape of the candle on the actual chart, let's review it so that the characteristics of the candle come to mind!