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Types of candlesticks and their significance

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Technical chart reading is a very powerful skill to have if you dream of becoming a trader and want to survive in this world of stock markets. We all know that chart reading is the most important aspect of technical analysis . So, we go on the internet searching for technical charts and I am sure you all must have come across one common chart, which is the "candlestick chart". This is the most popular chart among all traders and investors. The reasons behind this are that this chart is easy to understand, gives high accuracy trades, allows us to know the trend of the market, tells us about the sentiments of buyers and sellers, and many more. This chart is definitely the best amongst all the other charts. The candlestick chart consists of various candles, each of which has its own significance. Each candle on the chart shows the momentum that occurred at a particular time-frame. This "momentum" is nothing but the buying and selling happening in the marke...
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What is candlestick chart?

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To trade or to invest, we all need to study the technicals, which are in the form of charts. This study of charts is known as technical analysis . And the most commonly used chart by most traders and investors is the candlestick chart. The candlestick chart was first developed in the 18th century by a Japanese rice trader named Homma Munehisa. He is also called the father of candlestick chart patterns. Later in 1991, this chart was introduced to the world by Steve Nilson through his book called, Japanese Candlestick Charting Techniques. "Candlestick chart." The name itself tells us that it is a chart that involves candles. Each candlestick tells us the sentiment of the market, if it is a bullish or bearish sentiment. And a group of candlesticks forms a pattern which then indicates the market trend or gives an idea of where the market can move next. Each candle has an important role in the chart and represents the price movement that occurred during a defined time ...
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Multiple candlestick patterns- Part 2

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Welcome back, everyone, to Part 2 of Multiple Candlestick Patterns. Today we are going to discuss about five more major candlestick patterns that will help you in your technical analysis. If you haven't read Part 1 of Multiple Candlestick Patterns, you can read it by clicking here👉🏻 Multiple candlestick patterns: Part 1 1. Bullish Harami: A bullish hammer is formed with the combination of two candlesticks. This is a bullish reversal pattern that is formed at the bottom of a downtrend. Here, the first red candle indicates a strong downtrend in the market. The next small green candle is formed, which shows that the bulls are coming back into the game. The second green candle (body and wicks) should be completely within the range of the first red candle; otherwise, it won't be a valid bullish harami. To trade this pattern, there are two entries: Entry 1 : If the next upcoming candle breaks the high of the second green candle, you can enter with a stop-los...
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