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RoboForex - roboforex.com: overview, news and analytics
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[QUOTE="RoboForex Team, post: 330337, member: 105160"] [B][SIZE=5]Candlestick Analysis: 24 Main Candlestick Patterns[/SIZE][/B] [CENTER][img]https://blog.roboforex.com/wp-content/uploads/2019/09/svechnoj-analiz-na-foreks.png[/img] [B]Dear Clients and Partners,[/B][/CENTER] On all financial markets, the price of an asset is reflected as a price chart, constantly changing during the trading session in accordance with demand and supply. [SIZE=5]What is a candle?[/SIZE] A candlestick is a way of displaying information about the price movement of an asset. The candlestick chart is one of the most popular components of technical analysis, allowing traders to quickly and easily interpret price information from multiple price bars. A candle has three main parameters: [LIST] [*]The body of the candle, representing the opening-closing range. [*]A wick or shadow indicating the daily high and low. [*]A color that shows the direction of the market - a green (or white) body indicates an increase in price, and a red (or black) body indicates a decrease in price. [/LIST] Over time, individual candles form patterns that traders can use to recognize major support and resistance levels. There are so many candlestick patterns that indicate opportunities in the market - some give an idea of the balance between buying and selling pressure, while others identify continuation patterns or market hesitation. Before you start trading, it's important to familiarize yourself with the basics of candlestick patterns and how they can inform your decisions. [SIZE=5]Types of Japanese candlesticks[/SIZE] Let us now look at the types of Japanese candlesticks: some may lack bodies or shadows, some may have just one shadow. By shape, candlesticks are divided into: [LIST] [*]Normal (without anomalies). [*]Marubozu (long shadowless bodies). [*]Dojis (line-like bodies, where the opening price coincide with the closing price or is very near to it). [/LIST] [IMG]https://blog.roboforex.com/wp-content/uploads/2019/09/svechi-ris5-anglijskij.png[/IMG] Depending on the place of forming, candlesticks will have different names, though they will look roughly the same. At the same time, there are candlestick patterns which name do not depend on the place of formation. Based on these parameters, candlestick patterns may be divided into several groups: [LIST] [*]Reversal candlesticks at the top of the trend [*]Reversal candlesticks at the bottom of the trend [*]Continuation candlestick patterns [*]Candlestick patterns that can form either at the top or at the bottom of the trend, its name remaining the same [/LIST] [SIZE=5]Types of patterns in candlestick analysis[/SIZE] Candlestick patterns formed at the top of a trend Now let us discuss the conditions for the formation of the aforementioned patterns and look at the pictures. Candlestick patterns, formed at the top of the trend, are normally preceded by a long-time directed upward movement. [B]Shooting Star[/B] A Shooting Star pattern has a small body and a long shadow along with the trend. The second shadow is either too small or lacking. [I]Read more at R Blog - RoboForex[/I] [B]Sincerely, The RoboForex Team[/B] [/QUOTE]
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