Understanding Candle Characters To Determine Price Direction

Forex candlesticks are part of a technical analysis when trading. Candlestick trading is synonymous with a method developed in Japan in the 1700's for understanding large price movements. Candlestick formations in forex or price patterns are used by traders as entry and exit points when in the market.

It can also be said, this forex candlestick is used as part of a technical analysis to analyze the current market. Forex candlesticks individually will form candle formations, such as hanging man, hammer, shooting star, and other candle formations. For this forex candlestick chart, it will form various price patterns such as triangles, slices, and also head and shoulders patterns. These candle patterns and formations can also be used in all trading matters such as equities or cryptocurrencies as well.

Generally, to describe the condition of market prices that have increased (bullish) candlesticks, green or white candlesticks are used. Meanwhile, to describe a declining (bearish) market price, the candlestick used is red or black. There are 4 candlestick elements that make it easier for traders to read:

1. Body candlesticks

2. Axis Length

3. Ratio (Axis and Body)

4. Position

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