All Candles Patterns PDF
Advanced Candles Patterns PDF
Brief History
Candlesticks were created in 18th century by the legendary rice trader known as Homma Munehisa to give an overview of the opening, high, low & closing market price over a given period of time.
They were used by legendary rice trader to predict future market prices. After dominating in the rice market, Munehisa after that eventually moved to Tokyo Exchange where he gained huge fortunes using this analysis strategy. He's said to have made over than one hundred consecutive winning trades.
Types of charts
There are Three types of charts used in XAUUSD: Line, bar and candlesticks.
Line - draws a continuous line connecting closing prices of a xauusd.
Bars- displayed as sequence of OHCL bars. OHCL represents OPEN HIGH LOW & CLOSE. The Opening price is displayed as a horizontal hyphen on the left and closing price is portrayed as a horizontal hyphen on the right.
The main disadvantage of a bars is that it isn't visually appealing, hence most traders don't use them.
Candlesticks Patterns - Best Candlesticks Book - these use the same price data as bar charts (open, high, low, and close). However, they're represented in a much more visually identifiable way which resembles a candle that has wicks on both its ends.
How to Analyze Best Candlesticks Book
The rectangle part is calledknown--asreferred--to--as the body.
The high and low are described as shadows and drawn as poking lines.
The colour is either blue or red
- (Blue or Green Colour) - Prices went up
- (Red Colour) - Prices headed down
Most softwares like the MetaTrader 4, use colors to mark the direction. Colours used are blue or green: when price moves upward, red: when price moves downward.
Candles Vs. Bar Chart
When candles are used it's very easy to see if the price went up or down as compared to when bars are used.
The Best Candlesticks Book also have very many formations that are used to trade the market. Best Candlesticks Book - candlesticks setups have different analysis explanation and the most common Best Candlesticks Book are:
The above Best Candlesticks Book and Patterns is what makes the Japanese candlesticks patterns popular among technical traders & it's why this type of xauusd analysis are the most widely used in analyzing the trading market. The analysis for these Japanese candles pattern setups in xauusd trading is the same as that one used in stocks trading - Best Candlesticks Book.
Drawing japanese Candles Charts on MT4 Software
To draw Candlestick Charts on the MetaTrader 4, choose the MetaTrader 4 charts drawing tools within the "MT4 Toolbar" - shown below.
To view this tool bar in MetaTrader 4 go to 'View' Next to file at top left corner of MetaTrader 4 Platform, Click 'View', Then Click 'Tool bars', Then check the 'Charts' Button. The above Charts tool-bar will appear.
Once the above tool bar, appears you can then choose the type you want to convert to, If you want to view using the bar chart format, click the bar chart tool button key as displayed above, for line format click the line chart tool button, for Japanese candles format click the "candlesticks chart tool button key".
All Candles Patterns PDF. Advanced Candles Patterns Book PDF - Advanced Candles Patterns PDF. Bullish Candles Setup Patterns and Bearish Candles Setup Patterns and Candlestick Continuation Patterns PDF - How to Read Candlestick Chart for Day Trading
