Explained: Candlestick patterns that are less known to people and more advanced

economictimes.indiatimes.com:

candlestick patterns that every trader should know about. Candlestick patterns play a key role in identifying reversals in the markets and traders who know how to use them correctly have an ultimate edge in trading. However, a lot has already been written and a plethora of material is readily available out there on using these patterns.

So, how will this article be different? You might ask.

Well, to begin with, in this series, we are going to focus on some of the lesser-known candlestick patterns. Yes, effective patterns, but at the same time elusive! Patterns like Bullish Engulfing, Bearish Engulfing, Dark Cloud Cover, etc. are pretty much common and a lot of information is readily available about them on the internet. We would not like to repeat and reiterate what is already available and tell you what you already know.

We would rather focus on some of the advanced patterns whose knowledge would be extremely valuable in analyzing the markets and provide you with an ultimate edge. We will demonstrate the effectiveness of these patterns with some actual examples to enable you to apply this knowledge right away in your trading journey.

Do note, that candlestick patterns work best on higher time frames i.e. for swing and positional trading. Thus, whatever patterns we discuss here should be observed on the daily, weekly, and monthly time frames for better results. Without wasting any more time, let’s start with the first two patterns in our advanced candlestick series.

1) Bullish and Bearish Counter-Attack