Why Use The Japanese Candlestick?
It’s a proven analysis that’s successfully used hundreds of years ago in Japan.
Homna, the Rice Merchant, used the candlestick to amass great wealth and fortune in Japan.
It was said that he had over one hundred winning trades in a row.His abilities became legendary and were the basis of Candlestick analysis.
The Japanese Candlestick Analysis continues to enrich traders who have learned to decipher the story behind every bar.
WHAT IS A CANDLESTICK?
A candlestick depicts the battle between Bulls (buyers) and Bears (sellers) over a given period of time.
Through Japanese Candlesticks, the market signal that shows the battle between the Bulls (buyers) and the Bears (sellers) over a certain amount of time.
By knowing how to read candlestick, you will know which direction the market is heading.
Understanding the Language of the Market
At first glance, you’ll notice two types of candlesticks:
Bearish Candlestick:Filled Candlestick(Dark)-Close price is less than open price,indicating selling pressure.
Bullish Candlestick:Hollow Candlesticks(Light)-Close price is greater than the open price,indicating buying pressure.