At this moment, I just give brief introduction what candlestick is and how it relates to Candlestick Chart. These include market based on stock indexes such as Dow Jones and the DAX, currency exchange rates such as the Euro to US Dollar exchange rate, and commodities exchange rates such as gold and oil. What makes this bar unique is that the open and close are typically the exact same price or at least extremely close, so it is easy to identify and find on a chart. If the close is higher than the open, then the tube is left blank, or “white.
” If the close is lower than the open, then the tube is filled in, or made black.The customer does not do the blanking or the filling. All you need in software is a reasonable charting program with a good data feed that shows you the bars and the volume.
Japanese Candlesticks show their mettle in spotlighting reversals of trend as those reversals are occurring or are in the process of formation.
On these, the trading programs or robots perform their Fibonacci, trend lines and candlesticks. These candlestick patterns coupled with other technical indicators can be a very powerful signaling tool in the hands of a trader.Now why you need to learn candlestick charting? Many see this as a get-rich-quick-scheme; others accept the risk and eventually learn that this presumption appears to be true. You’ve forgotten that the markets answer to no one.