Steve nison the forex expert of candlesticks

Note that you will also see the bars colored green and red or some other combination of colors, with the darker version always denoting a lower close and the lighter version always denoting a higher close. The high and low are depicted by lines projecting from the top and bottom of the real body. These are named shadows, although you will also see other names, like wick as in candlewick and tail. You can learn more about the anatomy of a candle in a lesson on Japanese candlestick structure. Japanese candlestick structure has one tremendous advantage over the conventional bar.

When the close is higher than the open, the real body is white. When the close is lower than the open, the real body is black. A series of bodies all one color has an immediate visual impact. Compare the two charts below. Which series gives a more vivid impression? In fact, if you are a very short-term trader with a holding period of 15 minutes to 4 hours, you can use candlesticks in multiple timeframes, with the shorter timeframes revealing a loss of momentum, for example, as bars get shorter and perhaps even fade into dojis open and close are the same.

Be aware that at the end of trading sessions, especially the New York session, you will see a lot of small real bodies and dojis as traders pare positions. Size Matters As in all bars, the bigger the candle, the more trading action occurred during the period. A specific candlestick pattern often seen in Forex is the doji, in which the open and close are almost the same and therefore the real body is just a horizontal line. The open and close at the same level already tells you that market is indecisive, but to see one near the end of a trend consisting of big real-body bars is visually more compelling than on a conventional bar chart — the absence of action is immediately noticeable.

The doji may or may not mean the move is ending — you need to see the next bar to detect that. But the doji is a warning. Disadvantages of Candlesticks Candlesticks emphasize the open and close, relegating the high and low to secondary status.

And yet the conventional definition of an uptrend is a series of higher highs and higher lows with higher closes assumed , and the definition of a downtrend is a series of lower lows and lower highs with lower closes assumed. You can torture data to get a series of higher highs and higher lows that has lower closes, but that would be an aberration and such a series would not last very long.

As a rule, an uptrend has higher highs. And so candlestick charts fly in the face of one central definition of trendedness. Candlesticks do not tell you which came first, the high or the low. We are not an investment advisor, financial planner nor registered broker. We are a publisher of educational content. No offer to buy nor sell any instrument is being made on this site.

You hereby grant this site a royalty-free, perpetual, worldwide license to display, modify, adapt, create derivative works from, and otherwise use any suggestions, ideas, comment posts and information that you provide to this site. None of our content on any site nor courses nor other publications is a promise or guarantee of specific results or future earnings; we do not offer any financial investment nor trading advice of any kind; we publish educational content.

We do not purport to tell or suggest which securities nor currencies customers should buy or sell for themselves. You understand and acknowledge that there is a very high degree of risk involved in trading. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable or that they will not result in losses.

Testimonials may not be representative of the experience of other clients, and testimonials are no guarantee of future performance nor success. Their experiences may not be typical of what you can expect to achieve, as results may vary. Claims contained within testimonials have not been verified. Testimonials, case studies and success stories are individual experiences by persons who have used our services. Although these are accepted from site visitors and customers in good faith, we have not independently examined the trading records of any customers and therefore have not verified any specific figures or results quoted therein.

For this reason you should assume that their results are not typical.

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We are a publisher of educational content. No offer to buy nor sell any instrument is being made on this site. You hereby grant this site a royalty-free, perpetual, worldwide license to display, modify, adapt, create derivative works from, and otherwise use any suggestions, ideas, comment posts and information that you provide to this site. None of our content on any site nor courses nor other publications is a promise or guarantee of specific results or future earnings; we do not offer any financial investment nor trading advice of any kind; we publish educational content.

We do not purport to tell or suggest which securities nor currencies customers should buy or sell for themselves. You understand and acknowledge that there is a very high degree of risk involved in trading. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable or that they will not result in losses.

Testimonials may not be representative of the experience of other clients, and testimonials are no guarantee of future performance nor success. Their experiences may not be typical of what you can expect to achieve, as results may vary. Claims contained within testimonials have not been verified. Testimonials, case studies and success stories are individual experiences by persons who have used our services.

Although these are accepted from site visitors and customers in good faith, we have not independently examined the trading records of any customers and therefore have not verified any specific figures or results quoted therein. For this reason you should assume that their results are not typical. No representation is being made that any account will or is likely to achieve profits of any kind.

Generally-expected customer results are that all traders lose money and do not become profitable, regardless of the training they receive -- trading is a high-risk speculative activity and there is significant risk of financial loss involved. Trading involves a substantial degree of risk and may not be suitable for all investors. I use candlesticks with Western technicals in my own retirement portfolio.

I work with many institutional firms who use fundamentals but use the timing of candlesticks to know when to enter or not. No matter what market your readers use, and no matter what time frame, they can harness the power of candlesticks. For example, we strongly educate traders not to look at candlesticks in isolation. Use candlesticks with Western technical indicators. Candlesticks are the final confirmation whether you will do the trade or not. Rule 2. For example, you could have the doji that you ignore, where others I would pay attention to.

Or you could have a bullish candlestick pattern but the technical indicator shows there is resistance.

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