How to Read Japanese Candlestick Charts For Beginners!! Learn The Technical Analysis Of Candlesticks

Free: https://bit.ly/3vC82Ci How to Read Japanese Candlestick Charts For Beginners!! Learn The Technical Analysis Of Candlesticks Buy Your crypto at a massive discount: https://bit.ly/2RpVeA7 Cryptocurrency playlist: https://www.youtube.com/watch?v=M-2mEFXRoqc&list=PLyMmrb9JG2e5tctIc8es7L9efdP4HpxEh Affiliate marketing playlist: https://www.youtube.com/watch?v=OGYQFrnBtk8&list=PLyMmrb9JG2e61YtAyFrU0M9wfw1ZVGY5Q Subscribe Now: https://bit.ly/3vC82Ci A Japanese candlestick is a type of price chart that shows the opening, closing, high and low price points for each given period. It was invented by Japanese rice merchants centuries ago, and popularised among Western traders by a broker called Steve Nison in the 1990s. An example of a green and red candlestick Today, Japanese candlestick charts are the most popular way to quickly analyse price action, particularly with technical traders. They offer much more information visually than traditional line charts, showing a market's highest point, lowest point, opening price and closing price at a glance. High Low Open Close (HLOC) charts display a similar level of detail to candlesticks – but traders tend to favour the latter, finding them easier to analyse quickly than HLOC. It's worth trying out both and seeing which works best for you. As well as using them to track previous price movements, technical traders look for Japanese candlestick patterns for clues on where a market’s headed next. They do this by looking for recognizable shapes that often lead to continuations or reversals. Candlesticks can be used to examine price action over any timeframe, from one second up to an entire year. Find out more about the different types of charts in IG Academy How to read Japanese candlestick patterns To read Japanese candlestick patterns, you'll need to familiarise yourself with three elements on each candle: its color, its body, and its wick. Its color tells you the direction of movement within the period, its body displays the market's opening and closing levels and its wick shows the high/low range. On most charts today, green candlesticks indicate upward movement, and red ones a move down. However, occasionally white (up) and black (down) is used instead On a green candle, the top of the body is closed and the bottom is open. On a red one, the opposite is true On both red and green sticks, the top of the wick (sometimes called the shadow) is the highest point that the market has hit within the period – and the bottom is the lowest #japanesecandlestick #candlestick #japanesecandle