How to Read Japanese Candlestick Charts
How to Read Japanese Candlestick Charts: for forex, stocks, futures, commodities.
The Japanese Candlestick charts are one of many different types of charts that are available to traders. The Japanese Candlestick charts, or just candlestick charts are probably the most popular ones. They are easy to read. You just need to learn the basics that we cover in this video.
The candlestick chart consists of red and green "candlesticks", or "candles". These are arranged one after the other in your chart and each candle corresponds to a time period, which means it shows the trading that happened for example during 5 minutes. It basically sums up the trading during that time in one candle. You know where the trading started during that time, how high the price went, how low the price went and where the trading ended. So one candle is the battleground between bulls and bears - it is like a tug of war.
The candlestick charts gives you an immediate overview of the market, if the candles are green the market is bullish, meaning more traders are buying than selling, and if candles are red the market is bearish, which means more traders are selling than buying.
When the market is bullish, the green candles are stacking up one after the other and trending upwards, meaning the market is trading higher, the candles are generally closing higher than the previous candle.
Likewise, if the market is bearish - the prices are trending downwards and candles are generally closing lower than the previous candle.
To be successful in day trading you will need to learn what all of this means. We have many videos explaining this, so please subscribe to our Youtube channel and go through our videos to learn what that means and how you can use that to profit more.
At the end of this video you will get a link to the “How to day trade using price action” video series. Make sure you subscribe and watch all those videos in that series and you will learn everything you need to know in order to be a successful trader. In our videos we’ll also teach you different candlestick patterns and what they mean, so make sure you subscribe and watch those videos.
OK, so that’s how the candlestick charts are formed. In day trading you want to find a time when the market is trending upwards and then enter your trade. In this case you would buy. If the market continues upwards the prices will become higher compared to the price that you bought at - and higher prices mean you are going to profit on your trade.
If the market is Bearish - meaning if it’s trending downwards - then red candles are lining up and you’ll see lower and lower prices, then you can sell short. That means you expect the downtrend to continue, and you would enter your “short” trade. If the market continues downwards you are going to make a profit!
That is trading based on candlesticks in all it’s simplicity. If you get good at this you can make a living as a day trader, which is what We want to help you with. We have many different day trading strategies and Coaching/mentorship available at daytradetowin.com.
Make sure you subscribe to our channel and watch more of our videos to learn day trading.
Until next time, good trading!
https://www.daytradetowin.com Risk Disclosure: daytradetowin.com/risk https://daytradetowin.com/risk
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