Excel Traders Academy, Beltola, Guwahati · exceltradersacademy.com/guides/candles · Education only, no tips.
Candle 1 of 5
Doji
Open and close are almost the same, so the body is just a thin line. It shows indecision.
Shape: A thin horizontal body in the middle with long wicks above and below.
Candle 2 of 5
Hammer
Small body at the top, long lower wick. Sellers pushed price down, then buyers pushed it back up within the same period.
Shape: A small body near the top with a long lower wick.
Candle 3 of 5
Marubozu
A long body with no wicks. 'Marubozu' comes from the Japanese for a close-cropped head: one side was in control the whole period.
Shape: A tall body with no wicks at either end.
Candle 4 of 5
Shooting star
Small body at the bottom, long upper wick. Price rose during the period but fell back before the close.
Shape: A small body near the bottom with a long upper wick.
Candle 5 of 5
Spinning top
Small body in the middle, with wicks of similar length on both sides. Neither buyers nor sellers won the period.
Shape: A small body in the middle with equal wicks above and below.
How to use it
- Look at the body first: tall, small or a line?
- Then the wicks: long on top, long below, both, or none?
- Name the shape. Only then read the chart around it.
A shape describes what happened in one period. On its own it never tells you what price will do next, which is why nothing on this sheet is a recommendation to buy or sell anything.