Do you want to catch the trend reversal before it happens?
Master these 4 candlestick patterns that every successful trader uses!
Letās break it down Phoenix style šļøš„š
1ļøā£ Bullish Engulfing š¢
š Appears in a downtrend
š¢ A big green candle completely engulfs the previous red candle.
ā Signal: Buyers are taking over.
š Phoenix Strategy:
Confirm with RSI < 30 or near support
Entry: Above the green candle's high
Stop Loss: Below the engulfing candle's low
Target: Next resistance or 1:2 risk-reward
2ļøā£ Bearish Engulfing š“
š Appears in an uptrend
š“ A big red candle engulfs the previous green candle.
ā Signal: Sellers are taking control.
š Phoenix Strategy:
Confirm with RSI > 70 or near resistance
Entry: Below the red candle's low
Stop Loss: Above the engulfing candle's high
Target: Next support or 1:2 RR
3ļøā£ Bullish Hammer šØš¢
š Appears at the bottom of a downtrend
š¢ Small body with a long lower wick (buyers stepped in).
ā Signal: Reversal to the upside is likely.
š Phoenix Strategy:
Confirm near strong support level
Entry: Above the hammerās high
Stop Loss: Below the wick
Target: Resistance zone or EMA 20
4ļøā£ Bearish Hammer (Shooting Star) šØš“
š Appears at the top of an uptrend
š“ Small body with a long upper wick (buyers failed).
ā Signal: Reversal to the downside possible.
š Phoenix Strategy:
Confirm near resistance or trendline
Entry: After red candle confirmation
Stop Loss: Above the wick
Target: Support zone or EMA 50
š” Phoenix Coin Pro Tip:
š Combine these candlestick patterns with:
āļø RSI / MACD / EMA Crossovers
āļø Support & Resistance zones
āļø Price action confirmation
Never trade just on patterns alone. Always manage risk with a 1:2 or better risk-reward ratio!
š„ Save this post as your go-to reversal cheat sheet!
š¬ Which pattern is your favorite to trade with? Let us know in the comments!
#PhoenixChain #CryptoWithConfidence #BinanceStrategy #CandlestickChart #ScalpingStrategy
