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Written by Nathalie Okde
Fact checked by Rania Gule
Updated 22 January 2025
Candlestick patterns are visual representations of assets’ price fluctuations in forex trading. You must know how to read and analyze these patterns to stay on top of your trades and minimize risks. To help you out, here's the best candlestick patterns cheat sheet in 2025.
Candlestick patterns are visual representations of the fluctuations of assets’ prices in trading.
The candlestick patterns cheat sheet presents single, double, and triple candlestick patterns and confirmation patterns, enabling traders to recognize signals for potential market reversals or continuations.
Bullish candlestick patterns signal that prices are likely to rise, whereas bearish candlestick patterns indicate that prices might drop.
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A candlestick is a visual tool for representing price movements in forex trading. It reflects the fluctuations in the price of assets like stocks, cryptocurrencies, or commodities over a specific period.
But why is it called a candlestick pattern? Because it looks like a candle with a wick on both ends, as you can see in the below candlestick anatomy image.
The "body" of the candlestick represents the opening and closing prices.
The opening price is the initial price at which an asset is traded at the start of a trading session.
However, the closing price is the final price at which it is traded at the end of the session.
The candlestick's body can be red or green.
If the body is red, the closing price is lower than the opening price (a down or ‘bearish’ period).
If it's empty or green, the closing price is higher than the opening price (an up or ‘bullish’ period).
The "wicks" or "shadows" are the thin lines above and below the body. They indicate the highest and lowest prices during that time.
While these candlestick patterns aren’t perfect indicators, they still provide good insights into the market direction, which is why having a candle stick cheat sheet is important.
Below is a straight-to-the-point candlestick patterns cheat sheet. This updated candlestick patterns list will help you quickly identify and understand all the patterns in 2025.
Download Candlestick Cheat Sheet PDF
Understanding candlestick patterns is critical to trading. There are two main types: bullish and bearish.
Bullish candlestick patterns signal that prices are likely to rise. Consider them a green light for buying.
Bearish candlestick patterns indicate that prices might drop. They're like red flags, suggesting that it might be time to sell.
Here’s a breakdown of the most popular bullish and bearish candlestick patterns.
Single candlestick patterns are individual candlestick formations that provide insights into potential market movements.
These patterns are formed by a single trading period and can indicate potential reversals or continuations in the market trend. Here are some patterns in the single candlestick cheat sheet.
Bullish single candlestick patterns list:
Hammer Pattern
Inverted Hammer Pattern
Dragonfly Doji Pattern
Bullish Spinning Top Pattern
Bullish Marubozu Pattern
Pin Bar Pattern
The hammer pattern, characterized by a small body and a long lower shadow, indicates a potential reversal from a downtrend to an uptrend.
The inverted hammer single bullish candlestick pattern features a small body and a long upper shadow.
The Dragonfly Doji signals market indecision, with the open and close prices being very close or identical, resulting in a small or nonexistent body.
The bullish spinning top also shows market indecision with a small body and long shadows on both sides, suggesting that neither buyers nor sellers are in control.
A bullish Marubozu is a candlestick pattern that signals a potential continuation of an uptrend or the beginning of a new bullish trend.
This pattern is characterized by a long green (or white) candlestick with no shadows or wicks, meaning that the opening price equals the day's low and the closing price equals the day's high.
The absence of wicks indicates that buyers were in control throughout the entire trading session, pushing prices higher without any significant selling pressure.
Traders often view a bullish Marubozu as a sign of strong buying momentum and may use it as a signal to enter long positions, anticipating further upward movement in the asset's price.
A Pin Bar is a candlestick pattern with a small body and a long wick, often indicating a reversal in price direction. The long wick shows rejection of a price level, signaling strong market sentiment in the opposite direction.
A bullish pin bar has its wick below the body, while a bearish pin bar has its wick above the body.
Bearish
Bearish single candlestick patterns list:
Hanging Man Pattern
Shooting Star Pattern
Gravestone Doji Pattern
Bearish Spinning Top Pattern
Bearish Marubozu Pattern
Inverted Pin Bar
The Hanging Man candlestick pattern resembles a small body with a long lower shadow, appearing after an uptrend.
It suggests that the market might be about to reverse and head downward.
The Shooting Star's small body and long upper shadow indicate a potential reversal to the downside.
The Gravestone Doji has a long upper shadow and no lower shadow, forming when the open and close prices are the same.
It suggests that selling pressure overcame buying pressure, hinting at a possible bearish reversal.
The bearish Spinning Top candlestick pattern, with a small body and long shadows on both sides, shows market indecision during an uptrend.
This can indicate that the trend might be losing momentum and that a reversal could be on the horizon.
A bearish Marubozu is a bearish candlestick pattern that indicates a potential continuation of a downtrend or the onset of a new bearish trend.
This pattern is represented by a long red (or black) candlestick with no shadows or wicks.
Traders often interpret a bearish Marubozu as a sign of strong selling momentum and may use it as a cue to enter short positions, expecting further declines in the asset's price.
An Inverted Pin Bar is the opposite of a standard pin bar, with a long upper wick and a small body located near the lower end. This pattern often appears after an uptrend and signals a potential bearish reversal.
The long upper wick indicates that buyers tried to push prices higher, but selling pressure overwhelmed them, causing the price to close near its low. Inverted pin bars are more significant when they form near resistance levels or within an overbought market.
Candlestick Patterns Cheat Sheet: Double Candlestick Pattern
Double candlestick patterns involve two consecutive candlesticks and provide insights into potential market reversals or continuations.
These patterns are more reliable than single candlestick patterns because they reflect more data over two periods, making them valuable for traders. Here are some patterns in the double candlestick cheat sheet.
Bullish double candlestick patterns list:
Bullish Kicker Pattern
Bullish Engulfing Pattern
Bullish Harami Pattern
Piercing Line Pattern
Tweezer Bottom Pattern
Upside Gap Two Crows Pattern
The bullish kicker candlestick pattern is a strong bullish signal. It occurs when a bearish candle is followed by a bullish candle that opens above the previous candle's price. This indicates a sharp reversal to the upside.
The Bullish Engulfing occurs when a small bearish candle is followed by a more significant bullish candle that completely engulfs the previous candle's body, signaling a potential reversal to an uptrend.
The Bullish Harami indicator is a small bullish candle that is completely contained within the previous larger bearish candle's body.
The Piercing Line candlestick pattern consists of two candles: a bearish candle followed by a bullish candle.
The bullish candle opens below the previous candle's low but then closes more than halfway up the body of the bearish candle.
The Tweezer Bottom indicator is formed by two or more candlesticks with matching lows, indicating strong support and a potential bullish reversal.
The Upside Gap Two Crows is a bearish reversal pattern that begins with a bullish candle, followed by two bearish candles.
The second bearish candle opens above the first bearish candle’s close, creating a gap, but it ultimately closes below the first candle’s open.
This pattern suggests that the uptrend is losing strength, as bearish pressure begins to dominate, signaling a potential trend reversal. It is most reliable in an overbought market or near resistance.
Bearish double candlestick patterns list:
Bearish Kicker Pattern
Bearish Engulfing Pattern
Bearish Harami Pattern
Dark Cloud Cover Pattern
Tweezer Top Pattern
Bearish Counterattack Pattern
Bearish Meeting Line Pattern
Bearish Tower Top Pattern
The Bearish Kicker is a bearish signal. It occurs when a bullish candle is followed by a bearish candle that opens below the previous candle's opening price.
The Bearish Engulfing candlestick pattern occurs when a small bullish candle is followed by a larger bearish candle that completely engulfs the previous candle's body.
The Bearish Harami is a small bearish candle that is completely contained within the previous larger bullish candle's body.
The Dark Cloud Cover is where a bullish candle is followed by a bearish candle that opens higher but closes more than halfway down the body of the previous bullish candle.
The Tweezer Top pattern is formed by two or more candlesticks with matching highs, indicating strong resistance and a potential bearish reversal.
A bearish counterattack is a two-candlestick bearish reversal candlestick pattern.
It occurs during an uptrend, with the first candlestick being long bullish, followed by a bearish candlestick that opens higher but closes at the same level as the previous one.
The matching close prices suggest strong resistance and a shift in market sentiment from bullish to bearish.
A bearish meeting line is a two-candlestick pattern signaling a potential bearish reversal during an uptrend.
It starts with a long bullish candlestick, followed by a bearish candlestick that opens higher but closes at the same level as the previous close.
A Bearish Tower Top is a reversal pattern that typically forms after an uptrend. It starts with a long bullish candle, followed by a cluster of smaller candles that indicate consolidation or indecision, and ends with a strong bearish candle.
This pattern signals that bullish momentum is stalling, and sellers are gaining control, leading to a potential downtrend. It’s an important signal, especially near key resistance zones.
Candlestick Patterns Cheat Sheet: Triple Candlestick Pattern
Triple candlestick patterns consist of three consecutive candlesticks and provide solid signals for potential market reversals or continuations.
These patterns are highly reliable in predicting future price movements. Here are some patterns in the triple candlestick cheat sheet:
Bullish triple candlestick patterns list:
Morning Star Pattern
Bullish Abandoned baby Pattern
Three White Soldiers Pattern
Three Line Strike Pattern
Morning Doji Star Pattern
Deliberation Candle Pattern
The Morning Star pattern indicates a potential reversal from a downtrend to an uptrend.
It consists of a long bearish candle, followed by a small-bodied candle (which can be bullish or bearish), and then a long bullish candle that closes well into the body of the first bearish candle.
The Bullish Abandoned Baby candlestick pattern is a rare but powerful reversal pattern.
It features a bearish candle, followed by a doji that gaps below the previous candle, and then a bullish candle that gaps up and closes above the midpoint of the first candle.
The Three White Soldiers pattern consists of three consecutive long bullish candles with short or no shadows, each opening within the previous candle's body and closing near its high.
The Three Line Strike is a bullish continuation pattern where three bullish candles are followed by a final bearish candle that opens higher and closes lower than the first candle's open.
Despite the bearish candle, the overall trend remains bullish.
Similar to the Morning Star, the Morning Doji Star pattern includes a long bearish candle, followed by a doji that gaps down, and then a long bullish candle that closes well into the body of the first bearish candle.
The Deliberation Candle Pattern consists of three bullish candles, where the first two candles are long and strong, indicating an uptrend, while the third candle is smaller with a close near its open, forming a short body.
This pattern signifies indecision or exhaustion among buyers, often leading to a pause or reversal in the uptrend.
Bearish triple candlestick patterns list:
Bearish Abandoned Baby Pattern
Three Black Crows Pattern
Evening Doji Star Pattern
Evening Star Pattern
Bearish Tasuki Gap Pattern
This pattern features a bullish candle, followed by a doji that gaps above the previous candle, and then a bearish candle that gaps down and closes below the midpoint of the first candle.
The Three Black Crows pattern consists of three consecutive long bearish candles with short or no shadows, each opening within the previous candle's body and closing near its low.
The Evening Doji Star includes a long bullish candle, followed by a doji that gaps up, and then a long bearish candle that closes well into the body of the first bullish candle.
Similar to the Evening Doji Star, the middle candle is a small-bodied candle instead of a doji.
It starts with a long bullish candle, followed by a small-bodied candle that gaps up, and then a long bearish candle that closes well into the body of the first bullish candle.
The Bearish Tasuki Gap is a continuation pattern that forms during a downtrend. It starts with two consecutive bearish candles separated by a downward gap.
A small bullish candle follows but fails to fill the gap, confirming the strength of the sellers and the continuation of the downtrend.
Confirmation candlestick patterns are multi-candlestick formations that confirm a trend's potential reversal or continuation.
They provide added assurance by verifying the signals given by preceding candlestick patterns. Here are some patterns in the confirmation candlestick cheat sheet:
Bullish confirmations candlestick patterns list:
Three Inside Up Pattern
Three Outside Up Pattern
Rising Window Pattern
The Three Inside Up pattern begins with a bearish candle. Next, a smaller bullish candle forms within the body of the bearish candle.
Finally, a second bullish candle appears, closing above the high of the initial bearish candle.
The Three Outside Up pattern starts with a bearish candle. Next, a larger bullish candle forms, completely engulfing the bearish candle.
Finally, a second bullish candle closes higher than the previous bullish candle.
The Rising Window is a bullish continuation pattern that occurs when a gap up forms between two consecutive candles.
The second candle opens above the previous candle’s high, leaving no overlap. This gap signifies strong buying pressure and reinforces the bullish trend.
The rising window is often used as a signal to add to long positions, especially if it forms after a period of consolidation or near a support level.
Bearish confirmations candlestick patterns list:
Three Inside Down Pattern
Three Outside Down Pattern
Falling Window Pattern
The Three Inside Down pattern begins with a bullish candle. Then, a smaller bearish candle forms within the body of the bullish candle.
Finally, a second bearish candle closes below the low of the first bullish candle.
The Three Outside Down pattern starts with a bullish candle. Next, a larger bearish candle forms, completely engulfing the bullish candle. Finally, another bearish candle closes lower than the second candle.
If you want to know and understand more about candlestick patterns, check out these 51 types of candlestick patterns.
The falling window is a bearish continuation pattern where a gap down forms between two consecutive candles. The second candle opens below the previous candle’s low, leaving no overlap, which indicates strong selling pressure.
This pattern is a clear signal that the downtrend is likely to continue, making it a valuable indicator for traders looking to short the market.
Let's walk through the history of candlesticks together.
The concept of candlestick charts originated in Japan during the 1700s.
Munehisa Homma, a Japanese rice trader, is credited with developing these charts. He used them to track rice prices and make better trading decisions.
Throughout the 1800s, candlestick charting became popular among Japanese traders. They found it helpful for predicting future price movements based on past market trends.
In the 1980s, an American financial analyst, Steve Nison, discovered candlestick charts. He realized their potential and started studying them.
Nison introduced candlestick charting to the Western world in 1991 with his book “Japanese Candlestick Charting Techniques.”
By the 1990s, traders around the globe began adopting candlestick charts. They appreciated the detailed and visual representation of price data.
Today, candlestick charts are widely used by traders and analysts across various asset classes, from stocks to cryptocurrencies.
Modern trading platforms feature candlestick charts, making them accessible to anyone interested in trading.
So, from rice trading in 18th-century Japan to global financial markets today, candlestick charts have come a long way. They have now become essential in traders’ day-to-day lives.
Therefore, here’s the best candlestick patterns cheat sheet to help you in your trading journey.
Using a candlestick patterns cheat sheet is like having a clear map in the trading world. To make full use of it, first start by familiarizing yourself with the basics. Understand the anatomy of candlesticks including the body, wicks, and colors.
Next, identify the market context. Before jumping into patterns, look at the bigger picture. Are you in an uptrend, a downtrend, or a sideways market? Candlestick patterns work best when you understand the surrounding market conditions.
Then, when you spot a candlestick formation on your chart, compare it to the cheat sheet. Look for similarities in structure and meaning.
To make the most out of your candlestick patterns cheat sheet, be mindful of these common mistakes that can hinder your trading success:
Ignoring market context and trends when analyzing patterns.
Overanalyzing every candlestick instead of focusing on clear, significant patterns.
Acting on patterns without waiting for confirmation from price action or indicators.
Skipping practice and backtesting to improve pattern recognition skills.
Relying solely on candlestick patterns without integrating other analysis tools.
Neglecting proper risk management, such as setting stop-loss orders or calculating risk-reward ratios.
While candlestick patterns provide insights into market sentiment, combining them with technical indicators can significantly enhance your accuracy and confidence.
Here’s a brief guide to the best indicators to pair with candlestick patterns:
Moving averages are excellent for identifying trends and key support or resistance levels. For example, a hammer pattern forming near the 50-day or 200-day moving average can signal a strong reversal. Use moving averages to confirm whether the candlestick pattern aligns with the prevailing trend.
The RSI measures the market's overbought or oversold conditions on a scale of 0 to 100. When a candlestick pattern like a bullish hammer forms in an oversold zone (RSI below 30), it strengthens the reversal signal. Conversely, a bearish engulfing pattern in an overbought zone (RSI above 70) can indicate a potential downturn.
Bollinger Bands illustrate price volatility by forming an envelope around the price chart. Candlestick patterns near the upper or lower bands are particularly useful for spotting reversals or breakouts. For example, a shooting star at the upper band might signal a bearish reversal.
Volume is a crucial factor in validating candlestick patterns. High trading volume during patterns like bullish engulfing or morning star indicates strong market participation, making the signal more reliable. On the other hand, patterns with low volume may lack the momentum needed for a significant price move.
Fibonacci retracement levels help identify potential support and resistance zones based on prior price movements. Candlestick patterns forming near these levels, such as a doji or a piercing line, can provide precise entry or exit points.
MACD helps measure momentum and trend direction. When a candlestick pattern aligns with a MACD crossover, such as a bullish pattern with the MACD line crossing above the signal line, it can provide a highly reliable signal.
By combining candlestick patterns with these indicators, you gain a more comprehensive view of market conditions. This layered approach helps filter out false signals and improves your ability to make well-informed trading decisions.
Candlestick patterns are essential for understanding price fluctuations in forex trading.
Knowing how to read and analyze these common candlestick patterns helps you make informed trading decisions and minimize risks.
Now that you have the best candlestick patterns cheat sheet, you're one step closer to kickstarting your trading journey in 2025.
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To study a candle chart, you must first understand the various candlestick patterns and what they signify. So, download the above candlestick patterns cheat sheet and go through it thoroughly.
Start by familiarizing yourself with basic candlestick components: the body, upper shadow, and lower shadow. Observe the patterns formed by one or multiple candlesticks to identify potential trends and reversals.
Then, practice by analyzing historical charts to see how patterns have played out in real market scenarios.
A candlestick is calculated based on four key prices during a specific period: the open, high, low, and close.
The candlestick's body represents the difference between the open and close prices, while the shadows (or wicks) show the highest and lowest prices during the period.
The color of the candlestick indicates whether the closing price was higher (bullish) or lower (bearish) than the opening price.
To read candlestick charts easily, focus on identifying common patterns such as doji, hammer, and engulfing patterns. You can recognize the overall trend by looking at the candlesticks.
Use support and resistance levels to predict potential price movements. Practice consistently, and use visual aids like candlestick patterns cheat sheets to help remember critical patterns.
Predicting a candlestick chart involves using technical analysis to identify patterns that suggest future price movements.
To improve prediction accuracy, combine candlestick analysis with other indicators, such as moving averages, RSI, and MACD.
Always consider market context and external factors that may influence price action.
A candlestick chart cheat sheet is a helpful reference guide that summarizes common candlestick patterns and their meanings.
It includes visual representations of each pattern, is a quick reference, and can help traders recognize patterns more efficiently while analyzing charts.
To download the candlestick cheat sheet infographic PDF above, follow these steps:
SEO Content Writer
Nathalie Okde is an SEO content writer with nearly two years of experience, specializing in educational finance and trading content. Nathalie combines analytical thinking with a passion for writing to make complex financial topics accessible and engaging for readers.
Market Analyst
A market analyst and member of the Research Team for the Arab region at XS.com, with diplomas in business management and market economics. Since 2006, she has specialized in technical, fundamental, and economic analysis of financial markets. Known for her economic reports and analyses, she covers financial assets, market news, and company evaluations. She has managed finance departments in brokerage firms, supervised master's theses, and developed professional analysis tools.
This written/visual material is comprised of personal opinions and ideas and may not reflect those of the Company. The content should not be construed as containing any type of investment advice and/or a solicitation for any transactions. It does not imply an obligation to purchase investment services, nor does it guarantee or predict future performance. XS, its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness of any information or data made available and assume no liability for any loss arising from any investment based on the same. Our platform may not offer all the products or services mentioned.
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