{"id":5003,"date":"2017-05-16T05:20:15","date_gmt":"2017-05-16T09:20:15","guid":{"rendered":"http:\/\/www.morpheustrading.com\/blog\/?p=5003"},"modified":"2022-04-06T15:04:59","modified_gmt":"2022-04-06T19:04:59","slug":"candlestick-patterns","status":"publish","type":"post","link":"https:\/\/morpheustrading.com\/blog\/candlestick-patterns\/","title":{"rendered":"Candlestick Patterns: A Simple Tool To Improve Your Trading Success"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-5025\" src=\"https:\/\/www.morpheustrading.com\/blog\/wp-content\/uploads\/2017\/05\/candlestick-patterns.jpg\" alt=\"candlestick patterns\" width=\"640\" height=\"453\" title=\"\" srcset=\"https:\/\/morpheustrading.com\/blog\/wp-content\/uploads\/2017\/05\/candlestick-patterns-110x78.jpg 110w, https:\/\/morpheustrading.com\/blog\/wp-content\/uploads\/2017\/05\/candlestick-patterns-300x212.jpg 300w\" sizes=\"auto, (max-width: 640px) 100vw, 640px\" \/>Although literally thousands of technical analysis strategies exist, we avidly believe in applying&nbsp;the <a href=\"https:\/\/en.wikipedia.org\/wiki\/KISS_principle\" target=\"_blank\" rel=\"noopener noreferrer\">K.I.S.S. principle<\/a> to&nbsp;trading.<\/p>\n<p>Why? The more complex the trading system, the greater the risk of&nbsp;human error while&nbsp;following the system.<\/p>\n<p>That&#8217;s why the Morpheus&nbsp;stock trading <a href=\"https:\/\/www.morpheustrading.com\/best-swing-trading-strategy\" target=\"_blank\" rel=\"noopener noreferrer\">strategy<\/a> is mainly focused on buying base <em>Breakouts&nbsp;and Pullbacks<\/em> within uptrends.<\/p>\n<p>However, there are easy ways to improve your <em>existing<\/em> trading strategy without complicating it.<\/p>\n<p>Continue reading to find out why&nbsp;candlestick patterns are&nbsp;an excellent&nbsp;tool to improve your trading success in a simple way.<\/p>\n<h3><strong>Candlestick Patterns For Confirmation<\/strong><\/h3>\n<p>Like other types of stock charts, a <a href=\"https:\/\/www.investopedia.com\/articles\/technical\/02\/121702.asp\" target=\"_blank\" rel=\"noopener noreferrer\">candlestick chart<\/a> displays the high, low, opening and closing prices of a stock for a specific time period.<\/p>\n<p>However, candlestick patterns give valuable clues about the short-term momentum of a stock that are not as easily derived by traditional line or bar charts.<\/p>\n<p>As such, candlestick chart patterns are excellent for <em>confirming<\/em> any type of pattern&nbsp;you normally trade.<\/p>\n<p>When doing nightly scans to find breakout and pullback setups for the <a href=\"https:\/\/morpheustrading.com\/services\/swing-trade-alerts\" target=\"_blank\" rel=\"noopener noreferrer\"><strong><em>Wagner Daily<\/em><\/strong><\/a>&nbsp;stock pick service, we use candlestick charts to help&nbsp;confirm bullish or bearish patterns.<\/p>\n<p>We do NOT use candlestick patterns as an actual trading strategy; rather, we use candlestick charts in a complimentary way to help improve our trading accuracy.<\/p>\n<p>Specifically, candlestick patterns are great for confirming the timing of a new trade entry into a breakout or pullback chart pattern.<\/p>\n<p>To see how candlestick patterns can improve your trading success by supplementing&nbsp;your existing trading strategy, check out the video below:<\/p>\n<p><iframe loading=\"lazy\" src=\"https:\/\/www.youtube.com\/embed\/1-XX3UOIM4c?t=8s\" width=\"640\" height=\"360\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\"><\/iframe><\/p>\n<p>While watching this video, I highly recommend you keep a notebook handy&nbsp;because you may want to jot down some notes on the various candlestick patterns.<\/p>\n<p>Since the video is 20 minutes long, I also suggest you&nbsp;kick back with your favorite coffee, tea, water, soda, beer, wine, or whiskey before getting started.<\/p>\n<p>The robotic narration voice is a bit annoying, but the content is worth it (you can also turn off the audio and read the subtitles instead).<\/p>\n<p>After watching the video, please <em>drop us a comment below<\/em> to let us know what you think.<\/p>\n<p>We value your opinion, so let us know if you enjoy this type of content and would like to see more in the future.<\/p>\n<p><center><script src=\"\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js\" async=\"\" type=\"text\/javascript\"><\/script><!-- Footer of content --> <ins class=\"adsbygoogle\" style=\"display: inline-block; width: 300px; height: 250px;\" data-ad-client=\"ca-pub-7565144363001883\" data-ad-slot=\"7002222565\"><\/ins><script type=\"text\/javascript\">\/\/ <![CDATA[ (adsbygoogle = window.adsbygoogle || []).push({}); \/\/ ]]><\/script><\/center><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Although literally thousands of technical analysis strategies exist, we avidly believe in applying&nbsp;the K.I.S.S. principle to&nbsp;trading. Why? The more complex the trading system, the greater the risk of&nbsp;human error while&nbsp;following the system. That&#8217;s why the Morpheus&nbsp;stock trading strategy is mainly focused on buying base Breakouts&nbsp;and Pullbacks within uptrends. However, there are easy ways to improve [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_links_to":"","_links_to_target":""},"categories":[3],"tags":[],"class_list":["post-5003","post","type-post","status-publish","format-standard","hentry","category-stock-trading-strategy"],"_links":{"self":[{"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/5003","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/comments?post=5003"}],"version-history":[{"count":1,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/5003\/revisions"}],"predecessor-version":[{"id":11216,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/posts\/5003\/revisions\/11216"}],"wp:attachment":[{"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/media?parent=5003"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/categories?post=5003"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/morpheustrading.com\/blog\/wp-json\/wp\/v2\/tags?post=5003"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}