In his Market Meditations, Substack blog, renowned British crypto analyst and trader Koroush AK, on 18th May published the second instalment of his ongoing trading education series. Starting with the fundamentals, the digital asset market analyst continued his four part trading course with key candlestick patterns, detailing their role in the battle between bulls and bears.
On Tuesday, digital asset market analyst continued his four part educational series, diving into four key bullish reversal patterns that one may come across while perusing crypto market charts,in search of entry points. As the crypto asset trader pointed out, in the first part of the series – where he delivered a complete rundown of candlestick anatomy – candlesticks are a fundamental part of the discipline of technical analysis.
Charts tell an amazing story.
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Understanding what each candlestick type signals, in terms of the ever-raging battle between bulls, and bears is the first step. Understanding what they foretell about future market activity – in conjunction with one another – is usually a key formula to properly timing trade exits, and entries.
The four bullish candlestick patterns in question are the Hammer, Inverted Hammer, Three White Soldiers, and Harami patterns, which are formed by different Candlestick types. If spotted at the tail- end of a bearish move, they usually indicate a reversal of the market’s losing streak.
Koroush cautions traders to confirm candlestick signals with the help of other indicators, but does touch on the “potentially unlimited upside” an understanding of candlestick patterns can offer a trader. Market Meditations, is the trader’s educational portal, where he shares insights and lessons on digital asset markets, and navigating them. The Subtack publication has proven quite popular with readers, having gained over 24,000 followers.