Candlestick charts show the open, high, low and close of every trading period in a single candle. This candlestick patterns cheat sheet explains the most common candle types, including marubozu, doji and hammer, and what each one usually signals about market direction. Use it as a quick reference, then follow the links to the full guides or browse our complete guide to candlestick patterns.
Candlestick Patterns Cheat Sheet: Quick Reference
| Candle | What it looks like | What it usually signals |
|---|---|---|
| Big white body (white marubozu) | Long bullish body with little or no shadows | Very positive: buyers controlled the whole session |
| Big black body (black marubozu) | Long bearish body with little or no shadows | Very negative: sellers controlled the whole session |
| White opening marubozu | Bullish candle with no lower shadow (opens at the low) | Quite positive |
| White closing marubozu | Bullish candle with no upper shadow (closes at the high) | Positive |
| Black closing marubozu | Bearish candle with no lower shadow (closes at the low) | Negative |
| Black opening marubozu | Bearish candle with no upper shadow (opens at the high) | Quite negative |
| White candle | Close above the open | No direction on its own; context decides |
| Black candle | Close below the open | No direction on its own; context decides |
| Dragonfly doji | Open, high and close at nearly the same level, long lower shadow | Possible bullish reversal, especially after a downtrend |
| Gravestone doji | Open, low and close at nearly the same level, long upper shadow | Possible bearish reversal, especially after an uptrend |
| Long-legged doji | Tiny body with long shadows on both sides | Indecision; possible reversal |
| Doji star | A doji that gaps away from the previous candle’s body | Possible reversal |
| Four price doji | Open, high, low and close all at the same price, shown as a flat line | Extreme indecision; rare and usually seen in thin trading |
| Hammer (white or black) | Small body at the top, lower shadow at least twice the body, after a downtrend | Possible bottom reversal (bullish) |
| Hanging man | Same shape as a hammer, but after an uptrend | Possible top reversal (bearish warning) |
What Is a Marubozu Candlestick?
A marubozu is a candle with a long real body and little or no shadows. A white (bullish) marubozu means price opened near the low and closed near the high, which shows strong buying. A black (bearish) marubozu shows the opposite. The fewer the shadows, the stronger the signal.
What Is a Doji Candlestick?
A doji forms when the open and close are almost equal, so the body is tiny or flat. It shows that buyers and sellers are evenly matched. On its own a doji signals indecision, but after a long trend it can warn that the move is losing strength. The dragonfly, gravestone, long-legged and four price doji are variations that differ in where the open and close sit within the range.
Hammer and Hanging Man Candlestick Patterns
The hammer and the hanging man have the same shape. The trend decides the meaning: after a downtrend it is a hammer (bullish), and after an uptrend it is a hanging man (bearish warning). Read the full guides: hammer candlestick pattern, inverted hammer candlestick and hammer vs hanging man.
Two-Candle Reversal Patterns
Reversal signals are stronger when they use two candles. Learn the piercing pattern (bullish, after a downtrend) and the dark cloud cover pattern (bearish, after an uptrend).
How to Use This Cheat Sheet
- Check the trend first. A reversal candle only matters at the end of a clear trend.
- Wait for confirmation. Look at the next candle before acting on any single pattern.
- Watch volume. Higher-than-average volume makes a signal more reliable.
- Manage risk. Decide your stop-loss before you enter a trade.
Frequently Asked Questions
What are the most important candlestick patterns for beginners?
Start with the marubozu, doji, hammer and hanging man, then move on to two-candle patterns such as the piercing pattern and dark cloud cover.
Is a doji bullish or bearish?
A doji is neutral on its own. A dragonfly doji after a downtrend leans bullish, and a gravestone doji after an uptrend leans bearish. Confirmation from the next candle is important.
Do candlestick patterns work every time?
No. Candlestick patterns show probabilities, not certainties. Combine them with volume, support and resistance levels, and risk management.
Disclaimer: This article is for educational purposes only and is not investment advice. Trading involves risk, and you can lose money.
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