Forex The importance of studying Japanese candlesticks

[FXOchartist]

All experienced forex traders certainly understand that one of the most widely used chart types is Japanese candlesticks.
This is more often chosen by traders because of its ease of reading. Trading with Ticktrader at FXOpen UK, I most often use this type of candlestick in technical analysis.
The importance of studying Japanese candlesticks can be used as predictive power to recognize reversal patterns, continuation trends, or indecision market

Reversal candlestick patterns such as the Engulfing Pattern or Hammer often appear in chart patterns to signal a possible reversal which is useful in determining entry points.
Trend continuation candlestick patterns such as the Three Line Strike or Rising/Falling Three Method are patterns that may carry trend continuation signals
Indecision Market candlestick patterns such as Doji or Spinning Top are indecision point candlestick patterns

Candlestick patterns are usually divided into three types to recognize possible reversal patterns, namely single, double, and triple.
For single candlesticks such as Doji, Spinning Top, hammer, and Shooting Star, each of which reflects market behavior patterns.
For Double candlesticks such as Bullish/Bearish Engulfing, Harami, Piercing Line
For triple candlesticks such as Morning Star, Evening Star, Three White Soldiers, and Three Black Crows.

Traders can also learn the complete description of the Japanese Candlestick Cheat Sheet on the FXOpen blog.

 

[FXOchartist]

Compared to line and bar charts, candlestick price charts are more widely used by traders because of their ease in reading high, low, and close information which can be distinguished by the color of the candle body. The patterns that can be formed by market mechanisms may vary. It is important to understand the basics of how to read Japanese candlestick patterns.

 

[moonchild]

The importance of Japanese can not be underestimated because they show you on the chart where exactly do price is and also give you the opportunity to make decisions in the Forex market if you are a beginner in Trading its is important to study how and when and where candlesticks are formed.

Did reason why a lot of traders now a days uses candlesticks is because they are easy to study and most especially they almost are accurate you can never go wrong using them in the market do superior to bar chart and other types of Chart that are currently available

 

[FXOchartist]

The importance of Japanese can not be underestimated because they show you on the chart where exactly do price is and also give you the opportunity to make decisions in the Forex market if you are a beginner in Trading its is important to study how and when and where candlesticks are formed.

Did reason why a lot of traders now a days uses candlesticks is because they are easy to study and most especially they almost are accurate you can never go wrong using them in the market do superior to bar chart and other types of Chart that are currently available

Japanese candlesticks are very easy to read, the information available in one candlestick consists of Open, High, Low, and Close which is very useful for market analysis. In daily trading at FXOpen UK, I use Japanese candlesticks in the chart platform that I use. It feels uncomfortable when reading line charts and bar charts.

 

[FinTrader]

Compared to line and bar charts, candlestick price charts are more widely used by traders because of their ease in reading high, low, and close information which can be distinguished by the color of the candle body. The patterns that can be formed by market mechanisms may vary. It is important to understand the basics of how to read Japanese candlestick patterns.

It is also very convenient and informative. After all, often when a trend reverses or during a correction, long shadows appear on the candles; this works especially well on higher timeframes. This can be used profitably in trading. The line graph doesn't show this.

 

[tray59]

Compared to line and bar charts, candlestick price charts are more widely used by traders because of their ease in reading high, low, and close information which can be distinguished by the color of the candle body. The patterns that can be formed by market mechanisms may vary. It is important to understand the basics of how to read Japanese candlestick patterns.

Candle stick is easy to understand you can use bar chart but it an old way to do analysis candle stick is very easy to understand and as per this I believe that if you use candle stick you will be able to identify the bull and bearish market which prompt the action of placing profitable order this enlighten you on how the trend of the market should react when I use to be active I do forex and I use candle stick to run my analysis thou I do combing it with some indicators like parabolic sar and macd