Candlestick Patterns

Candlestick patterns are a great way to read what price may do next. They tell you a story of what happened during the period of that candle, and you can use this information with other techniques to create an educated guess of future movement

There are many candlestick patterns, but only a few are very important in memecoins

ENGULFING CANDLES

Engulfing candles are a sign of strength in one direction or another. It shows that either buyers or sellers were able to dominate the price from candle open to close, creating a candle which ‘engulfs’ the prior one

You can expect price to follow through after an engulfing candle, especially if its at a key level or following the current momentum

PINBARS

Pinbars show that either buyers or sellers had control of price, but werent able to hold it until candle close. They are usually candles with small bodies and long wicks on one side. Similar to engulfing candles, you can expect price to follow through in the direction opposite to the long wick, especially at a key area or if its following momentum

DOJIS

Dojis are small candles which signify indecision. They are alot smaller than the candles around them and usually have an equal length upper and lower wick, along with a small body. These are reversal candles, and when formed at key areas, they can signify a change in momentum