3 Candles Analysis to Read Trading Chart

The term candlestick chart is used by many traders to indicate price. Visually, candlestick charts are easy to understand and the information presented in each candlestick is quite complete, including the opening price, lowest price, highest price and closing price.

Candlestick is a type of price used in technical analysis that shows the highest, lowest, opening and closing price of a price in a certain period. Candlesticks are generally used for short-term trading, so they are more suitable for use by traders. One of the advantages of candlesticks is being able to display market psychology easily. Understanding candlestick patterns is not just remembering and recognizing candlestick formations on the price chart display, but you also have to know the direction of movement of the candlesticks carefully so that trading traders can avoid anxiety.

When price dominates the market, candles can move in the same direction. For example, buyers dominate the market, so the candle can move bullish. As long as there is no fight from the seller, the shape of the candle can follow from the previous candle. After several traders felt that the market was too high or the sellers could fight back. This event is referred to as profit taking.

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