• The Candlestick patterns provide valuable insights into market trends
• They can help you identify MRO reversal signals.
• Candlestick patterns can be used in coincidence with other indicators.
• They are a time-tested tool for traders.
• Discuss about the best forex broker in India.

Candlestick Statement 

Green (or white) body indicates a price increase

The Green Color Candlestick is a Bullish candle.

Red (or black) body shows a price decrease

The Red color Candlestick is a Bearish candle.

CANDLESTICKS CHART

➤ The candlestick charts show the exact prices and information as a bar chart, but there are good-looking graphic layout methods.

➤ Candlesticks bars still indicate the high to low range with a vertical line.

➤ In the following example, the ‘filled color’ is red. For our ‘fill up’ structure, the top of the structure is the opening price, and the bottom of the structure is the closing price.

➤ However, the larger structure (or blocks) in the center of indicates the range between the opening and closing prices in candlestick charting.

BAR CHART

➤ A bar chart is a Complicated complex. It shows the opening and closing prices and the high and low.

➤ Bar charts are helpful for the trader to see the price range of each period.

➤ The lowest point of the vertical bar indicates the lowest traded price for that period, while the top suggests the highest price paid.

➤ The horizontal hash on the left side of the bar is the starting price, and the flat hash on the right side is the ending price.

Parts of a candlestick?

Candlesticks are helpful for trading. They show four price points (open, close, high, and low) throughout the period the trader defines. Many algorithms have the same price information shown in candlestick charts.

Open Method:

The starting first trade is during the period specified by the candle.

When the Forex Trading open rate is higher than the closing rate of the Candlestick, it is colored with a “filled-in” body.

Close Method:

The last trade during the period specified by the candle.

When the Forex Trading Close rate is lower than the Opening rate of the Candlestick, it is colored with a “filled-out” body.

High Method:

The highest traded price.

A large bullish candlestick bar has to appear Method.

Low Method:

The lowest traded price. 

A smaller bearish candlestick bar has to lower Method.

Forex Candlestick Chart Patterns

Candlestick charts display a security’s high, low, open, and closing prices for a particular Duration. Candlesticks have their origin in Japanese rice merchants and traders who tracked market Values and daily momentum hundreds of years ago, becoming popularized in the United States.

There,

1) Bullish Hammer

2) Hanging Man

3) Hammer

4) Shooting Star

5) Kicking

6) Inverted Hammer

7) Rising Three Methods

Bullish Hammer:

A price pattern in candlestick charting occurs when a safety trades significantly lower than its starting but reassembles within the period to close near the opening price.

Hanging Man:

When a specified safety notably moves down after being unlocked but continues to rally to close above the intraday down, a Hanging Man candlestick will form. The Candlestick will resemble a square box attached to a prominent stick-like figure. It is mentioned as a Hanging Man if the candlestick forms during an advance.

Hammer:

The Candlestick you are down with will look like a box in a square attached to a long stick-like number. This Candlestick is called a Hammer if it happens to form during a get-less.

Shooting Star:

This same-day pattern can become visible during an upturn and opens highly while it closes near completion. It trades much highly as good. It is bearish but looks like a turn upside down. Hammer.

Kicking:

The single-day Candlestick is a bearish bald or shale head candlestick with next to no upper or lower outline and where the price opens at the day’s height and closes at the day’s down. The second day is a bullish marubozu pattern, with next to no higher or lower outline as the price opens at the day’s soft and finishes at the day’s high. Additionally, the next day gaps up extensively and extends above the opening price one day before. As the Japanese call it, this gap or window is placed in the middle of day one and day two’s bullish candlesticks.

Inverted Hammer:

If it decreases, then the open is down. When it, in the end, trades highly but closes near its open, it will look like an upturned version of the Hammer Candlestick. This is a one-day bullish reversal pattern.

Rising Three Methods:

Bullish pattern is a Rising Three Methods of five-candle that signifies maintenance of an existing upturn. The first candle is high and green, followed by three short red candles with bodies inside the lineup of the starting candle. The ending candle is also green and tall and closes above the starting candle’s close.

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