1IDATA
TRADER
CANDLESTICK
PATTERNS
GUIDE
il
Property
of Data
Trader
Telegram
channel,
do
not
repurpose
or redistribute.
High Winrate Candlestick Pattert
L1
Shrinking Candles
Engulfing
Pinbar
:\ar Continuation
3 Bar Reversal
Breakout
1IDATA
TRADER
1IDATA
TRADER
-
-
Pattern #1 Shrinking Candles
Bullish
ZI
3 consecutive
red candles, each
body getting smaller
Bearish
big green candle
closes above the body
of second red candle
l
TRADER
Shrinking Candles Example
L
i l
i
take profit at
1.5x-2x
stoploss
Buy at green
-!T+-*F
candle’s close
Stoploss at low of
third candle
1IDATA
TRADER
Pattern #2 Engulfing Candle
Bullish
|
Bearish
big green candle closes
above previous red candle
TRADER
Engulfing Candle Example
Stoploss at high of
red candle
short atred
candle’s close
take profit at
1.5x-2x
stoploss
1IDATA
TRADER
Pattern #3 Pinbar Candle
Bullish
Bearish
long wick above + small body
long wick below + small body
indicates buying pressure.
|nd|cates selling pressure.
TRADER
=
Pinbar Candle Example
o
K '
]
T
;
I
wl FI
=\
i
o
Buy at NEXT green candle’s
close after the bullish pinbar
Stoploss at low
of pinbar
s
1IDATA
TRADER
Pattern
#4
3 Bar Continuation
Bullish
[
medium to large
green candle
Bearish
large green candle
small red
candle
l
TRADER
3 Bar Continuation Example
take profit at
1.5x-2x
stoploss
$-‘T.F
Buy at third green candle
Stoploss at low of
second
red candle
1IDATA
TRADER
.
Pattern #5
3 Bar Reversal
Bullish
medium
Bearish
sized red candleI\
+ small red candle
large green candle
that closes above
the first red candle
1IDATA
TRADER
3 Bar Reversal Example
4¢—
take profit at
1.5x-2x
stoploss
Buy at third green candle
Stoploss atlow of
second
red candle
1IDATA
TRADER
Pattern #6
Bullish
o
*
Breakout
Pattern
Bearish
at least 3 candles
with small body
and small wick
(could be any color)
1 large red candle
1IDATA
TRADER
Breakout Pattern Example
multiple candles with
small wick and small body
Stoploss at red
+‘!++IIT*F+-Til
candle’s open
Short atred
candle’s close
II+’TI
|
take profit at
1.5x-2x
stoploss
‘—
1IDATA
TRADER
Important Tip:
Chart patterns shouldn’'t be used on their own. Don’t
go
all in on
a trade just because
engulfing
pattern
form
Instead,
look
setups
for
in
you
saw
a bullish
the
middle
of
where
these
candlestick
a
chart
patterns form near key levels. This way, they act as
confirmation, adding strength to your entry decision.
1IDATA
raper
35 Bar Reversal + Support Level
Bullish 3-bar reversal pattern
forming at support level
Support level: shown by two
previous price bounces
moee
1IDATA
Exclusive Strategy #1
combining candlestick patterns with Fibonacci Retracements
In this
strategy,
we
combine
candlestick
patterns
with
Fibonacci retracement levels for
high-probability
entries.
Apply
Fibonacci
from the swing low to
swing high (white arrows). The
price pulls back to the 61.8%
Fibonacci zone, where a Bullish
Pinbar forms, followed by a green
candle. Enter BUY at the close of
the green candle after the Pin Bar.
1IDATA
TRADER
Exclusive
Strategy #2
Inside
this guide,
I've mainly
shown
examples of candlestick patterns forming
reversals at key levels. However, you can
also use them for breakouts. In this
example, a bearish 3-bar continuation
pattern forms after the price breaks a
support
level,
signaling
a
possible
continuation of the downward trend.
moe
Exclusive Strategy #3
Double Candlestick Patterns
A setup to keep an eye on is
double
candlestick
patterns,
where two candlestick patterns
combine into a single setup.
This type of setup offers a
better chance of the pattern
playing out. In this chart, we see
a bearish 3-bar reversal pattern,
where the small candle also
happens to be a bearish pinbar.
Bearish
3 bar
reversal
Bearish pinbar
1IDATA
TRADER
How to Increase a
Pattern’s Winrate
A simple way to significantly boost the win
rate of a chart pattern is to trade in the
same direction as the long-term trend. To
do
this,
apply
the
100
EMA
Indicator
your
chart.
If the
price
is above
EMA,
only
trade
bullish
patterns.
If the
price
is below
EMA,
trade
bearish patterns.
the
100
the
to
only
100
price below
100 EMA
Bearish
engulfing
pattern
1IDATA
TRADER
.
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