Common Candlestick Patterns

If a good forex trader is like a wizard, then candlesticks are like the crystal ball that help you see the future – i.e. the future prices.

Let’s test your knowledge on the most common candlestick patterns in forex:

1 / 8

What is a hammer candlestick made of?

Short body with a short lower wick

Short body with a long lower wick

Long body with a long lower wick

Long body with a short wick

2 / 8

When is a hammer candlestick usually formed?

At the bottom of an uptrend

At the bottom of a downtrend

At the top of a downtrend

At the top of an uptrend

3 / 8

What is the difference between a hammer and an inverse hammer?

Hammer is bullish while inverse hammer is bearish

Hammer has long upper wick while inverse hammer has long lower wick

Hammer is bearish while inverse hammer is bullish

Hammer has long lower wick while inverse hammer has long upper wick

4 / 8

What does the bullish engulfing candlestick show?

Strong buying pressure

Upcoming price breakout

Upcoming price reversal

Strong selling pressure

5 / 8

What is the composition of the morning star candlestick?

3 sticks (long red – short red – long green)

4 sticks (short red – long red – long green – short green)

3 sticks (short red – short red – long green)

4 sticks (long red – long red – short green – long green)

6 / 8

What do the three white soldiers represent?

Bullish trend after downtrend

Bearish trend after uptrend

Continued bearish trend

Continued bullish trend

7 / 8

The hanging man candlestick is the bearish form of …

Shooting star candlestick

Morning star candlestick

Three black crows’ candlestick

Hammer candlestick

8 / 8

How should you interpret the evening star candlestick?

Sideways trend

None of the above

Reversal of uptrend

Reversal of downtrend

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