Candle stick charts for beginners
Candle stick charts for beginners

Candle stick charts for beginners

By Thimberwolf | hint_of_Crypto | 11 Mar 2020


Hello
and good morning, good day, good evening, good night
whenever you read this little short tutorial.


History

The candle chart was first used in Japan, Around 1750. It is attributed to Munehisa Hommaa, a Japanese rice merchant and he is considered to the «father of the candlesticks charts».

Steve Nissen first described it Early 1990s in his two books «Japanese Candlestick Charting Techniques» (1991) and «Beyond Candlesticks» (1994)

 

What are Candle sticks?

With the candle diagrams you can see the past and you can try to look into the future to predict the rise or fall of a course. They are an instrument in technical analysis to make predictions. With the candle charts are visible the support, resistance, as well as bullish and bearish dominance and takeovers.

 

What are bullish and bearish?

bullish: The bulls pick up their opponents' horns and throw them up. In the stock market, rising prices are therefore called bullish or long

bearish: The bears stand on their back legs and beat their opponents down. The falling prices on the stock exchange are therefore called bearish or short.

 

Constructing of the candlestick
A candle show you four pieces of information: 1) The opening price 2) the closing closing price 3) The highest level 4) The minimum level

Infographic Candlestick Formation

Description
The candles are easy to read. Each candle shows a period that has been set before you start to trading. Have you set 10 Minute so you see a candle with 10 Minute. A red or black candle indicates a falling price. A green or white candle a rise of a course.

 

Learn more text

Introduction to Candlesticks on school.stockcharts.com
«The Japanese began using technical analysis to trade rice in the 17th century. While this early version of technical analysis was different from the US version initiated by Charles Dow around 1900…»

The 5 Most Powerful Candlestick Patterns on www.investopedia.com

«Candlestick charts are a technical tool that packs data for multiple time frames into single price bars. This makes them more useful than traditional open-high, low-close bars or simple lines that connect the dots of closing prices.»

10 Price action Candlesticks patterns you must know on tradingsetupsreview.com
«Are you using candlestick charts as your default chart type for price action analysis? Most likely, the answer is yes. In that case, why not make the most out of it by mastering candlestick patterns?»

Candlestick Charting Explained on candlecharts.com

«Candlestick patterns are a form of technical analysis and charting used in the stock market, forex market and all other markets. And they can be used in all time frames,»

 


Learn more video

How to Read Japanese Candlestick Charts? on youtube by Trading 212

«In this video Trading 212m on youtube.com explains how to use Japanese candlestick charts. You can easily learn the kind of signals a candlestick chart provides. Trading 212 gives you the main patterns to help you spot the trends on the currency market.»

 

Candlestick charts: The ULTIMATE beginners guide to reading a candlestick chart on youtube.com by The Trading Channel

«In this video, Steven shares some advanced structure trading techniques for the Forex market and a few key steps to building a Forex trading strategy»

 

The ultimate Candlestick pattern trading course on youtube.com by Rayner Teo

«Learn how to identify trading setups with high probability so you can benefit in bull and bear markets.»

 


Thanks for reading and all the best 4 you.

(written on March 11, 2020 Infographic by me)
Disclaimer. You are responsible for your own actions.

Thimberwolf
Thimberwolf

I am a fan of the crypto world. And I've been using the Brave browser for a while.


hint_of_Crypto
hint_of_Crypto

A hint of crypto. Here I share my experience and knowledge about crypto. I am Andreas and I come from Germany. I had my first contact with Bitcoin in January 2017. And I was able to observe how the course continued to rise in the year. I'm not an expert. I am a Beginner. But you learn to read. With writing you learn more about it and consolidate your knowledge.

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