Single Line Candlestick Patterns - Price Action Strategy | Part 4 (HINDI)

Single Line Candlestick Patterns is one of the types of candlestick patterns. In this type of candlestick pattern, the shadow or wick of the real body plays a very important unlike the first type i.e. basic single line candlesticks wherein the body of the candle is crucial.

There are 4 types of Single Line Candlestick Patterns
1. Shooting Star
2. Hanging Man
3. Hammer
4. Doji

In shooting star candlestick pattern, the body is small and the upper shadow is twice or two times the real body. It is formed after uptrend and points to resistance level & potential reversal. Normally, investors close their position after shooting star as it means that bullish momentum is weakening.

The second pattern is hanging man candlestick pattern. In this pattern the real body is small and lower shadow is twice the size of the real body. The conclusion in this pattern is same as shooting star but it is more bearish than shooting star.

The third pattern is hammer. It is observed during a downtrend and means the potential bottom of the stock. It is normally a green candle and signifies weakening bearish momentum.

Doji is a candle wherein open is equal to close with upper and lower shadow. It signifies trend reversal and Doji can be bullish or bearish depending on the chart set up. There are 2 types i.e. long-legged and gravestone doji.

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