BLENDING CANDLESTICKS: Candlestick patterns are made of just one or maybe more candlesticks and can together be blended to create one candlestick. This candlestick that is blended the essence of the pattern and may be created using the next:
- The open of first candlestick
- The close of the candlestick that is last
- The reduced and most of the pattern
A bullish Engulfing Pattern or Piercing Pattern combinations into a Hammer by making use of the available of the first candlestick, near of this second candlestick, and high/low associated with pattern. The long lower shadow associated with the Hammer signals a potential reversal that is bullish. Just like the Hammer, both the Bullish Engulfing Pattern and the Piercing Pattern require bullish verification.
Mixing the candlesticks of a Bearish Engulfing Pattern or Dark Cloud Cover Pattern creates a Shooting Star. The long, top shadow associated with Shooting Star indicates a potential reversal that is bearish. Just like the Shooting celebrity, Bearish Engulfing, and black Cloud Cover Patterns need bearish verification.
More than two candlesticks may be blended utilizing the instructions which are exact same open from the very first, near through the last and high/low for the pattern. Blending Three White Soldiers creates a long white candlestick and blending Three Black Crows produces an extended candlestick that is black colored.
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