Candlesticks

Read and watch the videos below. Here is a website that will be referenced to teach you the different types of candles and patterns. Quizzes will be directly related to the sites contents: name recognition, direction bias, entries, and exits

35 Powerful Candlestick Chart Patterns (NEEDED FOR COURSE AND QUIZZES)
Tweezer Tops/Bottoms
Read, study, ask questions, and practice
Another good site: 16 candlestick patterns every trader should know (Optional)

Candle-what?

Here is my explanation of candlesticks and the information you will view below
You are highly encouraged to seek other materials online to learn from and the advice and information you will hear are my personal thoughts on candlesticks

What are Candlesticks?

Candles represent both Buyers and Sellers in a given period
Open and Close of a candlestick depends on whether it is Bullish (Price rising) or Bearish (Price falling)
- Bullish (Green) - Open is the bottom of the green candle and close is the top
- Bearish Candle (Red) - Open is the top of the red candle and the bottom is the close
Wicks (aka Shadows, Tails) - represent the high or low of the candle

Candlestick Patterns Based on Strength

Each candle can tell us whether the market was bullish or bearish for that time period

Remember, that a single candle is an indicator of the current price action, it is not a guarantee that the price will continue higher or reverse lower.
Always use other methods of confirmation: Trend lines, candle patterns, or continuation candles.

Candlestick Patterns Based on Strength

Each candle can tell us whether the market was bullish or bearish for that time period

Remember, that a single candle is an indicator of the current price action, it is not a guarantee that the price will continue higher or reverse lower.
Always use other methods of confirmation: Trend lines, candle patterns, or continuation candles.

v12044gd0000c68pcjjc77u2sfss3p40.MP4

Wicks and Timeframes

Wicks

Determines Price Rejection
Wicks are referred to as trapped money

Candlesticks

- 1M, 5M, 10M, 15M, 1HR, 4HR, Daily, Weekly, Monthly
- How candlesticks are created from smaller time frames (see examples below)
  - 15 min is created from three 5 min candles
  - 1 hour is a combination of four 15 min candles

Page updated

Report abuse