trading What are candles stick and how they operates

[Babubu609 0]

The cryptoworld is getting famous were many countries are now understand the importance of cryptocurrency and they are fighting to contributes to its movement. The cryptoworld nowadays is getting much complicated were there are lot of cryptocurrency illiteracy at an area that Leads to lot of failures from lacking the most important knowledge about the subject matter. As the matter of fact many users especially the newbies looses there money in cryptocurrency and immediately get discouraged just for the first time. It will be a good idea when we seek for technical advices and learn a lot of smiles regarding some aspect of cryptocurrency e.g trading , and investment. 

The fact behind this impeachment is that we need to double think and know reasons why we oftens makes mistake and know why, what leads to that mistake and after learning we expect you to learn from that mistake to stop repeating same mistake. Try to get this to your brain nothing good comes easy you need to struggle hard to enjoy the fruit of your stress. When you seems to greedy and don't want to work,help you always end up regretting and failing/ lossing all that you have in other to earn you keep loosing. Be a good partners so that others be your friend. Whenever you help others someone will also help you be wise enough at all point.

 

Candlestick

The candle are most at times reliable in all time frames if you know how it works. There are some strategies, just as I listed from my previous topic, like morning stars, evening stars, and haramids, this candles are often seen in especially the intraday trading, This often happened in this candles if you observed it requires a big gap between the closing of one of the candle and the opening of the other. In most cryptocurrency trading and the movement of liquid prices, gaps between candlesticks rarely occur during the day. 

However, as the matter of fact there is possibility with the use of the morning stars and evening stars without using the gaps. At this phase w can make use of a poetic license. 

The main deviation from this analyze formation often occurs by sudden price moving on the chart as the chart is at point of updating from one time period to the next. 

 

Doji

 

Doji is known as a reversal signal .The Opening/ closing prices of trade at one price or another. Doji is know or reffered to as warning sign of an impending turn. For a doji to make a confirmation it needs a candle for before acting on it, and when it is found in any other candle port, the doji candles also add up strength and much reliability to the formation. Whenever If there is doji in an uptrend, we just need a closet of them behind the close of the doji to confirm that yes, the trend has taken a changed.

 

Dragonfly Doji (Bullish)

 

 

This type ofdoji is mostly seen at most top bottom of a move. The opening and closing of prices are all the same. The Long wick at other hand below also indicates a reversal. This kind of patten is more of going bullish than a hammer.

 

Gravestone Doji (Bearish)

 

The gravestone doji is visible physically and is often seen at tops in trade. The part opening and closing prices are also all the same. There is a tall wick shadow. This pattern oftens is more going at bearish more than a shooting star. Technically, it should not have a full body.

 

 

Spinning Top

 

Now let's take a look at the spinning top. The spinning top can be considered as a good reversal signal and it can be of any color. The spin top has a smaller body, the smaller the direction of the market.

 

 

This are brief explanation on the candlesticks. Happy trading to everyone in this forum. Have a nice day

 

 

Edited October 26, 2020 by Babubu609

[Babubu609 0]

On 10/20/2020 at 12:06 PM, Semen Levshunov said:

Therefore, traders use additional technical and fundamental analysis tools to refine their forecasts.

Candles stick are very good option to be included in studying trade. Many traders fill because they lack the knowledge of reading the candles. This has been a reason why I take time to create this topic.

[George10 9932]

@Babubu609 Thanks so much for the words of encouragement while as knowledgeable one on candle sticks,I might say you have done a great job coming up with this topic because I know many will find help and as for me I have taken something and saved the topic for future use a big thanks ounce again.

[Babubu609 0]

6 minutes ago, George10 said:

I know many will find help and as for me I have taken something and saved the topic for future use a big thanks ounce again.

Hi @George10there are lot to discuss about the candles this are just few of them but very soon I will posts more updates regarding this candles stick.

[George10 9932]

14 minutes ago, Babubu609 said:

Hi @George10there are lot to discuss about the candles this are just few of them but very soon I will posts more updates regarding this candles stick.

Sure mate that will be great and do tip me up when you publish about the updates on the candle sticks because I really want to upgrade my knowledge in this area perhaps it will improve me in my trading career thanks.

[Babubu609 0]

On 10/22/2020 at 6:58 AM, George10 said:

I really want to upgrade my knowledge in this area perhaps it will improve me in my trading career thanks

Don't worry I will send you pm 😃 when I created more topics about the candles all you need is to stay tuned. I need to make research to get all this prepared confidently.

[percare 3192]

Thanks this is a good explanation of candles and given with a few more examples. It would be great to see a spinning top candle example too as I don't remember about this one. It is a good post nonetheless and gives a clear definition of candles. The doji is also very important and I've discussed with experienced traders that understand the importance it has. It is an indicator with good chance to change the trend.

[Ndayebo8 0]

It would be great to see a spinning top candle example too as I don't remember about this one. It is a good post nonetheless and gives a clear definition of candles. The doji is also very important and I've discussed with experienced traders that understand the importance it has. It is an indicator with good chance to change the trend.

 

 

[annayks 2314]

Thanks a lot mate, it is very important to know about this and I remember myself not understanding at all what these candlestick meant. I like to read patterns and find similarities with previous bitcoin movements and some signs in the chart can be very important.

[zhoutong 2188]

I use the japanese candlesticks always and the rest are not very useful or hard to use and find patterns. Sometimes I use the typical patterns but I don't trade unless I have confirmation from the chart about the change of trend. I hunt changes in trend because this has been the most profitable to me.

[entrepreneur 634]

Thanks, I really needed this, this is the exact value we need in this forum ,I will give you 5 star ratings for this. I will post some informational topics like you did too.

[noshot 154]

I didn't know a lot about the candlesticks and I seen them at yobit and other traders I started watching. I understand they are a form of diagram that explains the price and how it moves, but you given a very good description and helped me with this, so thanks mate.

[Cryptomint 433]

I know about it but I really appreciate to your post because you have explained it very well and it will be very good for the beginners...

[pablomarwan 3082]

Trading is not based on guesswork. Rather, important matters that we need to notice before trading. Learn the reaction of a candle. And every candle and its direction. But not all candles fear it. If we need technical analysis in addition to indicators, which are only numerous, we also have to learn their basics and know if the movement of the candle is the same as what the indicator is trying to deliver to us. The beginning is difficult, but with perseverance, you will learn a lot and master trading.

[bogdanoff 3173]

I always use japanese candlestics. The chart patterns are not exactly right as some traders think, we have some that are important and others that fail too often. Most of the time they mean nothing and are created by bots trading. When there is a trend this becomes obvious in the charts as it has now that it is bullish trend for months.

[Zeshan Khalid 2577]

A candle stick starts at a particular time in the graph and after certain time it ends and new candle is created. If coin have faced a downfall then that particular stick will be red and if it's price have increased then candle stick would be green. New candle starts where previous candle ends and it's length determine the magnitude of fluctuation.

[yonkii 3205]

I didn't know a lot about the differences in candlesticks, I understand those that exchanges have and took me sometime to find out what are heighs and lows.

On 10/20/2020 at 1:52 PM, Babubu609 said:

Try to get this to your brain nothing good comes easy you need to struggle hard to enjoy the fruit of your stress. When you seems to greedy and don't want to work,help you always end up regretting and failing/ lossing all that you have in other to earn you keep loosing.

I didn't understand this advice at all. What it means and what is "greedy" means when trading and what is "don't want to work". I thought that trading was about being greedy and make the most from our trades. I don't understand the work part either.

[Khan 1414]

Candlestick pattern is quite famous for the market analyzing and is widely used by the Forex traders as in candle pattern its easy to understand the market condition with the help of few indicators.

[Shaza Ahmad 1682]

Japanese candlesticks are one of the oldest ways to express charts and can be used in many areas of life, not only in the field of trading in the markets, any time chart curve can be transformed into Japanese candlesticks, I see that you have made a great effort to present this article at the best As you always do, thank you.

[kryptonick 2659]

I look at candlesticks all the day, I start and stop trading at times, however when the market is rising and I am in position, I can't stop looking at the sticks and discuss with other traders. However, what we see as bullish there are always traders that have another opinion. And it doesn't happen often to have a consensus that price will keep rising. Even so, when this happens, price can just go down a lot, liquidate a few billion of USD and put them in the pockets of CZ and co. A 10% drop will liquidate half the orderbook and during bull runs, Bitcoin has been doing too many 30% drops, just to liquidate everybody.