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@meldonium

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Mint Michelangelo

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Hello guys. I was absent for a long time due to illness. I’m still here. But I’m already better, I’ll be discharged at home soon)) I want to know your opinion. Am I running my account too boring? Maybe I need variety?

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We have already talked about combinations in which the body of the white candlestick overlaps the body of the black candlestick by less than half. They are called: on-neck, in-neck and thrusting pattern. These combinations are bearish signals. They differ from each other only in the degree of intersection of the white and black bodies. In the "on-neck" pattern, trading ends near the minimum price of the previous day, and in the "in-neck" pattern - slightly above the closing price. In both of these cases, white candlesticks usually have a small body. In the "thrusting" pattern, the white candlestick has a longer body and it overlaps part of the black one, but does not reach its middle.

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Important to know! In the «Dark-Cloud Cover»pattern, the black body does not necessarily have to cover the previous white body by more than half. But for the «Piercing pattern», there is a stricter requirement: the white candle must rise to at least half the body of the black candle. This requirement exists because there are independent candlestick analysis patterns similar to «Piercing pattern», in which the body of the white candle covers the body of the black candle by less than half. These figures are shown in the picture. Tomorrow I will tell you more about them.

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The "Piercing Pattern" is a candlestick pattern that is the opposite of the "Dark Cloud Cover" It signals a reversal at the bottom of the chart. A break in the clouds appears in a falling market and consists of two candles, the first with a black body and the second with a long white body. On the second day, trading opens at levels significantly below the previous day's lows, but then the price rises, forming a body that covers at least half of the previous candle's body.

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The dark cloud cover is a reversal pattern that also consists of two candles, occurs after an uptrend and is a signal for a reversal at the top. On the first day, a candle with a long white body is formed on the chart, and the opening price of the second candle exceeds the upper shadow of the first candle. However, the second candle ends at the middle of the body of the previous candle.

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Factors that increase the likelihood of a change in the market trend after an engulfing pattern appears on the chart: 1. If the first candle has a very short body, and the second one has a very long one. 2. If the engulfing pattern forms after a long trend or, conversely, after a sharp market movement. 3. If the second candle of the engulfing pattern appears against the background of high trading volume. 4. If the second candle of the engulfing pattern covers several previous bodies at once.

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The engulfing pattern is one of the important reversal signals; it consists of two candles, which are usually painted in different colors. 3 criteria for the engulfing pattern: 1. There must be a clearly defined uptrend or downtrend. 2. The body of the second candle must overlap the body of the first. 3. The color of the second candle must be different from the color of the first. The exception is when the candle has a very small body and resembles or is a doji. Bullish engulfing pattern (Figure 1): during a downtrend, a white candle appears, which engulfs the smaller body of the previous candle with its body - this is a reversal signal at the bottom. In Figure 2, everything is the opposite: the appearance of a black candle on an uptrend, the body of which engulfs the body of a white candle, is a reversal signal at the top.

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Looking at this chart, we can see that the reversal model does not necessarily foreshadow a change of trend to the opposite. The reversal model only signals the completion of the previous trend. In this case, after the appearance of the Hanging man, the upward trend was replaced by a lateral movement, but did not turn into a decrease. And after the appearance of another Hanging man, the character of the market changed dramatically from bullish to bearish.

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The same candlesticks can be either bullish or bearish depending on the market trend at the time they appear on the chart. If the trend is downward, then we should expect it to end, and the candlestick in this case will be called a “Hammer.” If exactly the same candlestick appears during a period of rising prices, then it indicates a probable end to the bullish trend and is called a "Hanging man" (look at it; it is at the top of the chart and resembles a hanged man with dangling legs).

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Hammer and Hanging Man are candles with long lower shadows and small bodies located at the top of the price range. It doesn’t matter what color the candle is. Depending on which part of the graph this candle is located in, it can be a bullish or bearish signal. 3 signs of Hammer and Hanging Man: 1. The body of the candle is at the top of the price range. Body color is not important. 2. The lower shadow should be twice as long as the body. 3. The upper shadow should be absent or very short.

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Trend reversal patterns are specific movements on price charts that signal a potential reversal in the current market trend. It is very important to understand! A reversal signal indicates that an old trend is likely to end, but may not necessarily be replaced by an opposite trend. After a reversal signal appears, prices may behave differently. The price may move sideways for some time and then go down, as in the 1st picture, and in another situation it may resume growth instead (Figure 2), sometimes it happens that an uptrend actually immediately turns into a downtrend (Figure 3).

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This picture shows a type of candlestick called a Doji. The body of the doji is completely missing (it has become a horizontal line), and the length of the shadows can vary. A Doji is formed when the opening and closing prices coincide. Doji plays a very important role in candlestick analysis. Can you tell me what this might tell us?

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This picture shows the so-called spinning tops - candles with a small body size. What can we say about these candles? What do you think? What did we think about, maybe, if we see that this candles are adjacent to other candles?

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Hello everyone! I stopped coming here after my castes were hidden. I’m thinking of continuing. What do you think?

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Thin lines above and below the body of the candle are called shadows; they reflect the price extremes of the day. The highest point of the upper shadow corresponds to the maximum price, and the lowest point of the lower shadow corresponds to the minimum price.

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The Japanese candlestick is the most informative type of chart. A Japanese candlestick consists of a body and a shadow. The candle body is the wide part of the candle that covers the price range between the opening and closing prices. If the body of the candle is black (that is, filled), then the closing price was lower than the opening price of trading; if it is white (empty), on the contrary, trading ended at a level higher than the one at which it began.

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What is a timeframe? A timeframe is a time interval that is reflected in chart elements. They can be minute, hourly, daytime, etc.

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There are 3 types of charts: 1. Linear - the simplest; is built only at closing or opening prices. 2. Bar – shows closing and opening prices; also shows the minimum and maximum prices during the day. 3. Candlestick - considered the most convenient. It covers the shortcomings of the two previous graphs. Shows the mood of market participants within the timeframe.

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Three Pillars of Technical Analysis 1. The price takes everything into account. 2. Price movements are subject to tendencies (trends). 3. History repeats itself.

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