Cheat sheet
Candlestick Patterns Cheat Sheet: 12 Patterns at a Glance
This candlestick patterns cheat sheet puts 12 classic reversal patterns on one page: six bullish ones that form after a decline, then six bearish ones that form after a rise. The poster shows each shape, and the table below gives its type and what it shows about buyers and sellers. The candlestick patterns lesson covers the confirmation and failure point of each one.
Read every card in the same order: the move before it, the shape, then the next close. A pattern is only a clue until a later candle confirms it, and it means most at a support or resistance level. Use the Print or save as PDF button to keep a copy next to your charts.
The cheat sheet as text
| Pattern | Type | What it shows |
|---|---|---|
| Hammer | Bullish reversal | After a decline: small body on top, long lower wick. Buyers took back most of the drop by the close. |
| Inverted hammer | Bullish reversal | After a decline: small body at the bottom, long upper wick. Sellers could not extend the drop. |
| Bullish engulfing | Bullish reversal | A green body covers the whole prior red body. Buyers erased the last period's selling, and more. |
| Piercing line | Bullish reversal | A long red candle, then a green one that opens lower and closes above the middle of the red body. |
| Morning star | Bullish reversal | A long red candle, a small star lower down, then a long green candle closing above the middle of the first body. |
| Three white soldiers | Bullish reversal | Three long green candles after a decline, each closing near its high. The entry often comes late. |
| Shooting star | Bearish reversal | After a rise: small body at the bottom, long upper wick. Sellers pushed price back down by the close. |
| Hanging man | Bearish reversal | The hammer's shape after a rise. Only a warning until a later candle closes below its body. |
| Bearish engulfing | Bearish reversal | A red body covers the whole prior green body. Sellers erased the last period's buying, and more. |
| Dark cloud cover | Bearish reversal | A long green candle, then a red one that opens higher and closes below the middle of the green body. |
| Evening star | Bearish reversal | A long green candle, a small star higher up, then a long red candle closing below the middle of the first body. |
| Three black crows | Bearish reversal | Three long red candles after a rise, each closing near its low. The entry often comes late. |
How to use this cheat sheet
- Check the move before the pattern. A bullish reversal needs a decline to reverse and a bearish one needs a rise; the same shape anywhere else means little.
- Look for patterns at levels you marked in advance: support, resistance, the prior day's high or low, or VWAP. Above-normal volume on the pattern candle can add weight.
- Judge only closed candles, then wait for confirmation: a later candle that closes beyond the pattern in its direction.
- Put the stop where the pattern is proven wrong, beyond its low or high, and size the trade from that distance with the position size calculator.
- Practice on past charts first: find each pattern at a level, then check what the next candles did, including the times it failed.
Questions
What is the most reliable candlestick pattern?
None is reliable on its own, and any published success rate depends on the market, timeframe and rules tested. A pattern carries more weight at a support or resistance level, in the direction of the bigger trend, on a closed candle and with confirmation. The candlestick patterns lesson covers each one in detail.
What is the difference between a hammer and a hanging man?
Nothing in the shape: both have a small body on top and a long lower wick. A hammer comes after a decline and is a bullish reversal; a hanging man comes after a rise and is a bearish warning that needs a later close below its body.
Why is the doji not on this cheat sheet?
A doji shows indecision, not a reversal, so it is neither bullish nor bearish on its own. After a long run into a level it can warn that momentum is fading, and the next close tells you which way, if any. The candlestick patterns lesson covers the whole doji family.
Is there a candlestick patterns cheat sheet PDF?
This page works as one. Use the Print or save as PDF button to print it or save it as a PDF; the poster and the table list the same 12 patterns in the same order.
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