Candlestick Trading Basic
Reader’s message
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Hi Long are you offering a trading course
Regards
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Yes,but first I want you to know candlestick basic.
candlestick body means power of up or down.
long body = strong power
short body = weak power
shadow means trade was cancelled.
upper shadow = price up cancelled
under shadow = price down cancelled.
If you go to candlestick cancel theory course, please keep in mind above.
Simple and Complex Candlestick Patterns for Price Action Trading
Candlestick charts are the visualization of the price movements in the market.
Price action traders use candlestick to observe the price movements.
The candlestick patterns are also used by them for making trading moves.
In the past, traders blindly invest in the market and had to face a lot of loss.
Now, with different technology and tools available in the market, everyone wants to get the highest profit from their investment.
The patterns formed in these graphical representations of the candlestick chart of the price movement or the candles indicate some possible
state of the future in the market.
Traders can see the patterns and use them to safely decide when to exit the market or not.
Candlestick patterns are mainly of two types- Simple and complex.
Simple patterns are made of one candle.
There are various simple candles like hammer, the hanging man, doji etc.
The simple patterns can help the beginners to decide what to do next or can help them find a good time to invest.
The Complex patterns are made of two or more patterns.
Some of the common complex patterns are morning star, shooting star, harami etc.
The complex patterns are also known as zonal patterns.
These patterns are stronger than simple patterns.
Zonal patterns are more accurate as any simple pattern can be included in a zonal pattern and indicate completely a different thing than its
single meaning.
Zonal patterns are very important for regular traders and experts.
It is very important for the regular traders to know more about the complex patterns and their interpretations.
It is not obvious that a single pattern is always a weaker pattern.
But traders need to confirm a single pattern with the trend or the previous pattern before actually relying on them.
Candlestick Price Action Basic plan
