A single candlestick pattern is a pattern that is created by only one candle. The 1-day candlestick chart is commonly used by traders to identify a single candlestick pattern. A doji is formed when a stock's opening and closing prices are the same.
They can be traded independently and are classified into three major types, each with a bullish and bearish version:
Yo Sen (bullish) and In Sen (bearish) (bearish)
(Bullish) Hammer and Hanging Man (bearish)
Bullish Inverted Hammer and Shooting Star (bearish)
Single candlesticks can help you predict when prices will reverse or continue, depending on the pattern.