![]() ![]() ![]() Till 1710, only the physical rice trading was taking place, but then came the concept of a ‘coupon’, with a promise to provide rice in near future. In Japanese method of technical analysis, it is called the ‘candlestick Pattern’ or simply the ‘Japanese Candle’. In early 1600’s, the candlestick charts are assumed to be used for trading rice in Japan. The history of candlestick pattern starts from the 16 th century. However, it isn’t much difficult to understand, let us know a bit about the history of candlestick charts and how did it come into practice. In this chapter, we will let you know what a candlestick chart pattern is and how it’s different from a line chart or a bar chart. Now we have understood what the line charts and bar charts in previous chapter of tutorial, the next thing is the candlestick pattern. Candlestick charts are more commonly used in technical analysis of stocks. ![]() In other words, candlestick chart is designed by merging line chart and bar chart patterns. 5 Basics of Technical Analysis for BeginnersĪ candlestick chart displays price movements thru plotting of open, high, low, close prices of stock, currency or derivative on the chart.3 Technical Analysis: Candlestick Chart Anatomy. ![]()
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