Japanese candlestick chart analysis, so called because the candlestick lines resemble candles, have been refined by generations of use in the Far East. This is where experience with candlestick charts comes in.īefore you learn how to read candlestick charts, let us explain the benefits of them. For example, there are many times candlestick signals should be ignored. The goal of this section is to illustrate how candlesticks (and especially Nison candlesticks) can open new and unique tools for technical analysis, but since this is an introduction this will not provide a trading methodology. There are many important candlestick patterns and trading tactics not discussed in this basic introduction. This section discusses only a few of the scores of candlestick chart patterns. You may have of some common candlestick chart patterns or candlestick terms like bullish engulfing pattern, doji pattern, dark cloud cover pattern, hammer pattern and shooting star pattern. And they can be used in all time frames, from those looking for long term investments to those who use swing trading or day trading, The power of candlesticks (also called Japanese candlestick charts) is that they excel at giving market turning points and when used properly can potentially decrease market risk exposure.
Candlestick patterns are a form of technical analysis and charting used in the stock market, forex market and all other markets.
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