Posts Tagged ‘candlestick’

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How to Interpret Candlestick Charts?

What can you interpret from the tail of a candlestick? How can you know if the buyers or sellers have left the market after taking profit? For example, look at EUR/USD chart. The support and resistance levels are marked by horizontal lines. As you can see from the chart, some candlesticks make long tails at these key levels. It indicates a profit taking by the traders. For example, after the ruling by the German court to sort […]

Graphs of Candlesticks to Light Your Way

Candlestick charts provide more visual clues to price action. They make you read trends more clearly. Each candlestick is made of a real body with wicks above and below. Each candlestick represents the open, close, high, and low price for a particular timeframe. A bullish candlestick is represented usually by green color. The open price is below the close price of the candlestick. A bearish candlestick is represented by red color. […]

What Is a Japanese Candlestick Chart? — Technical Analysis Basics

Candlesticks are a visual representation of price movement on a chart. It is the most popular chart among the other types of charts. A candlestick shows you the open, close, high, and low price for a particular time period. The wicks above and below represent the highest and the lowest price for that particular time period. A bullish candlestick is represented usually by green color. A bearish candlestick is represented by red color. Candlesticks when viewed in group, […]

Support and Resistance — Candlestick Analysis — Forex Trading

In this video, you will learn about how to apply support and resistance along with candlestick analysis on your chart. For example, look at the EUR/USD daily chart. After five days of gain, the market forms a doji candlestick, which means indecision. This doji is formed at the 1.4409 level, which acts as near-term resistance. As you can see, the pair has failed to break above two times previously. The level 1.4409 […]

Forex Trading for Beginners — Railways

This video teaches you about the railways candlestick reversal pattern. According to the bullish railway pattern, the first candlestick is a bearish candlestick, followed by a bullish candlestick. The close price of the first one is on the same level as the open price of the second candlestick. Then you can expect the following candlestick to be bullish. For a bearish railway candlestick pattern, the close of the bullish candlestick, followed by the open of the bearish candlestick are on the same level. When […]

What Is the Tweezer Candlestick Formation?

In this video, you will learn about the tweezer candlestick formation. A tweezer top is formed when two consecutive candlesticks form equal highs. A tweezer bottom is formed when two candlesticks form equal lows. The color is the candlesticks is not important. You can use this pattern as a leading indicator to predict potential reversals in the market. In addition, you can use technical indicators for confirmation. You […]

How to Read a Candlestick Chart

Candlesticks are clearer to read in terms of price action compared to other types of charts. By observing the body and the color of the candlesticks you can determine the sentiment to be bullish or bearish. Also, a combination of two or three candlesticks form a pattern, which in turn gives the sentiment of the market. You can use different timeframes for observing the sentiment in the market using candlesticks. However, higher timeframes tend to give more stable signals. A candlestick with a green […]

Become an Expert on Candlesticks in 5 Minutes — Part 2

This is part 2 of the series. You can make your strategy based on candlesticks and chart patterns. Chart patterns give you the visual representation of the market sentiment. However, the candlestick patterns consist of one ore more candlesticks that form the pattern. Single candlestick patterns include hammer, shooting star, spinning top, etc. Some two candlestick patterns include bullish engulfing, bearish harami, etc. Some three […]

Become an Expert on Candlesticks in 3 Minutes

This video is a beginner's guide to candlesticks. Candlestick charts are more easier to read when compared to other types of charts. They are extremely popular among forex traders. Candlestick charts are a great tool to read price action. They are a great tool for observing trends and reversals. Candlestick patterns such as shooting star, hammer, etc. are very popular among forex traders and serve as a tool for finding […]

Forex Candlesticks Tutorial | The Double Top & Head and Shoulders Pattern — Lesson 4

This is part 4 of the series. In this video, you will learn about the double top and the head and the shoulders pattern. The opposite of these patterns are the double bottom and the inverse head and shoulders pattern. The double top pattern occurs when the price is met with strong resistance forming two consecutive highs. You can use the confirmation when the price breaks the neckline and a reduction in volume. This is a bearish reversal […]