Candle Sticks
Candlesticks are graphical representations of price fluctuations for currency pairs.. Maximum output with some simple thoughts...

This pattern occurs when two black days appear with equal closes in a downtrend. Matching Low indicates a bottom has been made even though the new low was tested and there was no follow through which is indicative of a good support price.

Recognition Criteria

1. The market is characterized by a prevailing downtrend.
2. A black body is observed on the first day.
3. The second day follows with another black candlestick whose closing price is exactly equal to the closing price of the first day.

Pattern Requirements and Flexibility

The Bullish Matching Low consists of two black candlesticks. The length of the first candlestick should be normal or long. Both candlesticks should close at the same level.

Trader's Behavior

The market has been lower as evidenced by another strong black day. The next day open higher and trade still higher and then it closes at the same price. This is indicative of short term support and will cause much concern with the bears. What reflects the psychology of the market is not necessarily the daily trading action but with the fact that both days close at the same level.

Buy/Stop Loss Levels

The confirmation level is defined as the midpoint of the first black body. Prices should cross above this level for confirmation.

The stop loss level is defined as the lower of the last two lows. Following the BUY if prices go down instead of going up and close or make two consecutive daily lows below the stop loss level while no bearish pattern is detected then the stop loss is triggered.

Candle white
Last engulfing bottom
Inverted hammer 2 line 1
Upside Tasuki gap
Bullish separating lines
Candle short white

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