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Japanese Candlestick Wiki | Basics | Analysis | Olymp Trade: Hello Folks in this article I will share with you. Japanese Candlestick basics & more.
I think this article will be really important for you. as the basics should be very strong if you have just stepped in the field of Trading.
However, The most important point I want to share with you is please don’t waste too much of your time in trying understanding Candlesticks. I can tell you this via my experience. and you’ll thank me later.
So, Just understand the basics. I will teach you here.
So, keep reading ahead Japanese Candlestick Wiki | Basics | Analysis | Olymp Trade
What is the Candlestick Chart?
A Candlestick chart or Japanese Candlestick is a financial chart that helps us to predict the price movement of currency, commodities & more.
The chart is said to be developed in the 18th Century by Munehisa Homma, a Japenese Rice trader.
This chart was introduced in the western world by Steve Nison when he wrote the book Japenese Candlestick Charting Technique.
Candlestick Olymp Trade
The First & foremost step is to change your chart to Candlestick in Olymp Trade.
To turn your chart into Candlestick. Firstly, login to Olymp Trade.
If you don’t have an Olymp Trade Click Here OR read this guide. I have also taught How to get Free trades & bonuses in this article.
After signing up, you’ll land to the Dashboard of Olymp Trade
Olymp Trade Dashboard
Secondly, Click on the bar icon (see below).
Now, click on Japanese Candlestick & that’s it!!
Japanese candlestick Basics | Analysis
As said above, the Candlestick chart is a method used by traders to understand the market position.
Whether the market is bullish or bearish.
Candle Stick can be read with two colours mostly:
1. Red: indicates Sellers price push
2. Green: indicates Buyers price push
How to read CandleStick Charts?
You must have faced difficulty in How to analyse Candlestick Chart or How to read CandleStick Charts?
However, Reading Candlestick is damn very easy.
Firstly, note down this important point that each Candle indicates a fight between Bull (Green ) & Bear (Red).
Here, Bull means the Buyer whose job is to push Market UP.
Similarly, Bear means the Seller whose job is to push the market DOWN.
See the image below:
Just remember this final point:
1. The longer the body more is the more conviction or clarity.
2. The longer the Shadow more is confusion.
One more Final Point. I want to share with you is There are basically three basic formula I personally follow to make candlestick easy ( see the image below )
So, this is the end of this article I hope you found this article helpful.
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