How to read Candlestick ?

FringFX

Sergeant
Messages
391
Reading a candlestick is really easy.
you just need to know the 4 pieces of information each candle shows: the OHLC or the Open, High, Low, and Close.

Once you know that, you just need a really substantial amount of screen time to identify the patterns that can be associated with reading them.
 

Ifmyante

ReadTheMarkets.com Rep
Messages
4
Be careful about putting too much importance on one particular candle

Far more important is being able to read the story of price - has price in the past been decided to be too expensive/cheap at this level? How far to the last decision point on the way here?
Study supply/demand and price action, and you'll begin to easily see the relevance of candles

Best

If
 

FringFX

Sergeant
Messages
391
This may help you a little View attachment 6259 (please only try on DEMO)

One more important thing to remember different brokers open and close at different times for eg. H4 candle will close with one broker and another broker the H4 candle will only close 1hr later
That won't matter much. Reading price action is much more important.
 

FringFX

Sergeant
Messages
391
I was referring to this bit

One more important thing to remember different brokers open and close at different times for eg. H4 candle will close with one broker and another broker the H4 candle will only close 1hr later
 
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