Comprehensive Japanese Candlestick Cheat Sheet

This Japanese candlestick cheat sheet is a handy reference for identifying single, dual, and triple candlestick patterns. It summarizes key candlestick formations, their characteristics, and what they signal about market trends. Use this as a quick guide while analyzing charts to enhance your trading decisions.

Candlestick Anatomy

Body: Represents the range between the opening and closing prices.

White/Green (Bullish): Closing price is higher than the opening price.Black/Red (Bearish): Closing price is lower than the opening price.

Wicks (Shadows): Show the highest and lowest price points reached during the period.

Single Candlestick Patterns

Candlestick NameBullish or Bearish?DescriptionPotential SignalSpinning TopNeutralSmall body with long wicks; reflects indecision.Indecision, trend continuation or reversal.DojiNeutralOpen and close prices are nearly identical; indicates indecision.Indecision, possible reversal.White MarubozuBullishLong body with no shadows; strong buying pressure.Continuation of uptrend or bullish reversal.Black MarubozuBearishLong body with no shadows; strong selling pressure.Continuation of downtrend or bearish reversal.HammerBullishSmall body at top with long lower wick; appears in a downtrend.Potential bullish reversal.Hanging ManBearishSmall body at top with long lower wick; appears in an uptrend.Potential bearish reversal.Inverted HammerBullishSmall body at bottom with long upper wick; appears in a downtrend.Potential bullish reversal.Shooting StarBearishSmall body at bottom with long upper wick; appears in an uptrend.Potential bearish reversal.

Dual Candlestick Patterns

Candlestick NameBullish or Bearish?DescriptionPotential SignalBullish EngulfingBullishA bearish candle followed by a larger bullish candle that engulfs it.Potential bullish reversal.Bearish EngulfingBearishA bullish candle followed by a larger bearish candle that engulfs it.Potential bearish reversal.Tweezer TopsBearishTwo consecutive candles with matching or nearly matching highs.Potential bearish reversal.Tweezer BottomsBullishTwo consecutive candles with matching or nearly matching lows.Potential bullish reversal.

Triple Candlestick Patterns

Candlestick NameBullish or Bearish?DescriptionPotential SignalMorning StarBullishLong bearish candle, small real body (any color), followed by a long bullish candle.Potential bullish reversal.Evening StarBearishLong bullish candle, small real body (any color), followed by a long bearish candle.Potential bearish reversal.Three White SoldiersBullishThree consecutive long bullish candles with small wicks.Continuation of uptrend.Three Black CrowsBearishThree consecutive long bearish candles with small wicks.Continuation of downtrend.Three Inside UpBullishLong bearish candle, smaller bullish candle retracing at least 50%, followed by a bullish candle closing above the first.Potential bullish reversal.Three Inside DownBearishLong bullish candle, smaller bearish candle retracing at least 50%, followed by a bearish candle closing below the first.Potential bearish reversal.

How to Use This Cheat Sheet

Bookmark It: Keep this cheat sheet accessible for quick reference during analysis.Practice Recognition: Familiarize yourself with the patterns to identify them in real-time charts.Combine with Other Indicators: Use these candlestick patterns alongside technical indicators for more robust trading decisions.

This guide equips you with the foundational knowledge to recognize and interpret Japanese candlestick patterns effectively, helping you make confident and informed trading choices.

Comprehensive Japanese Candlestick Cheat Sheet

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