movement for their chart analysis, and stand for a single time frame
period. Japanese candlesticks are one of the biggest storytellers of
all the price bar configurations. At first glance they can seem no
more interesting than looking at stick people with two dimensional
bodies, but when you start to investigate their characters, there's so
much information they hold within their simple forms.
In the first instance, you have a hollow or solid body. The hollow
body represents a price fall during a time frame and a solid body, a
price ride. That is the usual convention anyway. If there are top and
or bottom wicks, they demonstrate the extent of price fluctuation
during the time frame.
Here are the meanings of 5 Japanese Candlestick forms:
1. A candlestick that appears just like a new candle, without any
upper or lower wick to be seen is a sign of a strong bull market - if
it is of solid appearance. One with a hollow or empty appearance is a
strong sign of a bear market. A continuing trend in other words.
2. Sometimes you will see a flat horizontal line with no candlestick
body at all. I thought it was an error in my software the first time I
saw it, but it shows nothing more complicated than a day when there
has been no price movement at all.
3. Dragonfly dojis have no body, but just a long wick hanging down
from a horizontal line, rather like a long, narrow letter T. In
trending markets they are a strong signal for a reversal of trend.
4. Gravestone dojis are the opposite way round from their dragonfly
counterparts, also a signal for a trend reversal, but in the other
direction.
5. All of the above have a significantly more profound meaning when
viewed and used with adjacent candlesticks. One on its own tells a
story, but several in a line, over a few days tell the story - with
pictures too.
Trade With Japanese Candlesticks... http://candlemaxprf.blogspot.com/#
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