Candlesticks are the Japanese way of representing price movements on a chart. Candlesticks are pretty comprehensive, and these cover the opening, closing, high and low prices.
The opening and closing is represented by a body that looks like a candle (hence the name) and the wicks (if any) on the candle represent the high and the low of the day.
The table below explains the concept of candlestick formation in detail.
After understanding candlesticks, you may want to check them out on charts.
If you are a day trader, set the candlesticks period to 10, 15 or 30 minutes. If you are a BTST kind of guy, set it to 1 or 4 hours. If you are an investor set it to weekly-monthly.
This is the first article in the series. The next set of articles will explain chart patterns (one article per chart pattern) and in those, you will be able to figure out how these formations play out. Stay tuned for those articles.
VERY INFORMATIVE ……. WELL DESCRIBE
Very Accurately Explain, WOW.
Bullish candle pattern formed by JM financial ,it is locked in upper circuit.
Sir,
Want to know that will JM financial will cross 120 ?
I have just started learning .
1)As per weekly chart showing bullish.
2) Touched BB upper.
3) MACD
4) RSI
Above indicator showing bullish.
1 more reason is Hotelleela selling stake in which JM financial had Invested.