moonchild
VIP Contributor
Japanese candlesticks are tools for technical analysis used by forex traders to determine the price movements of currency pairs. the moment you open your chart, they are the first things you see, they come in different colors with the most frequent ones are green and red.
Unlike traditional bar charts, Japanese candlesticks provide a more in depth picture of the market trends. they indicate the opening price, closing price, highest and lowest points of a currency pair within a specific time frame, with Japanese candlestick you will be able to know if a candllestick is on an uptrend or downtrend easily.
I think one of the biggest advantages of Japanese candlesticks is that they are very easy to interpret, let me give you an example, a green or white candlestick indicates a bullish market, which means that the closing price is higher than the opening price. also, a red or black candlestick indicates a bearish market, meaning that the closing price is lower than the opening price, Japanese candlesticks can also help traders determine their entry and exit points. by studying the patterns formed by the candlesticks, you will be able to predict the future movements of a currency pair and take only valuable trades.
Unlike traditional bar charts, Japanese candlesticks provide a more in depth picture of the market trends. they indicate the opening price, closing price, highest and lowest points of a currency pair within a specific time frame, with Japanese candlestick you will be able to know if a candllestick is on an uptrend or downtrend easily.
I think one of the biggest advantages of Japanese candlesticks is that they are very easy to interpret, let me give you an example, a green or white candlestick indicates a bullish market, which means that the closing price is higher than the opening price. also, a red or black candlestick indicates a bearish market, meaning that the closing price is lower than the opening price, Japanese candlesticks can also help traders determine their entry and exit points. by studying the patterns formed by the candlesticks, you will be able to predict the future movements of a currency pair and take only valuable trades.
