Preschool>= Lesson Status ?
Kindergarten>= Lesson Status ?
Elementary>= Lesson Status ?
Grade 1 Support and Resistance Levels
Grade 2 Japanese Candlesticks
Grade 3 Fibonacci
Grade 4 Moving Averages
Grade 5 Common Chart Indicators
Middle School>= Lesson Status ?
Grade 7 Important Chart Patterns
Grade 8 Pivot Points
Summer School>= Lesson Status ?
High School>= Lesson Status ?
Grade 9 Trading Divergences
Grade 10 Market Environment
Grade 11 Trading Breakouts and Fakeouts
Grade 12 Fundamental Analysis
Grade 13 Currency Crosses
- What is a Currency Cross Pair?
- Crosses Present More Trading Opportunities
- Cleaner Trends and Ranges
- Taking Advantage of Interest Rate Differential
- Obscure Crosses
- Planning Around News and Fundamentals
- Creating Synthetic Pairs
- Euro and Yen Crosses
- How to Use Crosses to Trade the Majors
- How Cross Currency Pairs Affect Dollar Pairs
- Summary: Currency Crosses
Grade 14 Multiple Time Frame Analysis
Undergraduate>= Lesson Status ?
- Why Keep a Trade Journal?
- Benefits of Keeping a Journal
- What Should You Record in Your Journal?
- Potential Trading Area
- Entry Trigger
- Position Sizing
- Trade Management Rules
- Trade Retrospective
- Trading Journal Statistics
- Reviewing Your Trading Journal
- Difficulties of Keeping a Trade Journal
- Summary: Keeping a Trade Journal
Graduation>= Lesson Status ?
- Which Trading Style is Best for You?
- Which Currencies Should You Trade?
- What is Your Level of Trading Experience?
- Should You Be a Discretionary, Mechanical, or Hybrid Trader?
- What Kind of Mechanical System Suits Your Personality?
- What is Your Attitude Towards Risk?
- What Kind of Stop Suits Your Trading Style?
Summary: Japanese Candlesticks
- If the close is above the open, then a hollow candlestick (usually displayed as white) is drawn.
- If the close is below the open, then a filled candlestick (usually displayed as black) is drawn.
- The hollow or filled section of the candlestick is called the "real body" or body.
- The thin lines poking above and below the body display the high/low range and are called shadows.
- The top of the upper shadow is the "high".
- The bottom of the lower shadow is the "low".
Short bodies imply very little buying or selling activity. In street forex lingo, bulls mean buyers and bears mean sellers.
Upper shadows signify the session high.
Lower shadows signify the session low.
There are many types of candlestick patterns, but they can be categorized into how many bars make up the candlestick pattern. There are single, dual, and triple candlestick formations. The most common types of candlestick patterns are the following:
|Number of Bars||Candlestick Pattern|
|Single||Spinning Tops, Dojis, Marubozu, Inverted Hammer, Hanging Man, Shooting Star|
|Double||Bullish and Bearish Engulfing, Tweezer Tops and Bottoms|
|Triple||Morning and Evening Stars, Three Black Crows and Three White Soldiers, Three Inside Up and Down|
Just refer to the Candlestick Cheat Sheet for a quick reference on what these candlestick patterns mean.
Combine candlestick analysis with support and resistance levels for best results.
And finally, here are some words of wisdom.
Just because candlesticks hint at a reversal or continuation, it doesn't mean it will happen for sure! You must always consider market conditions and what price action is telling you.
This is the forex market and nothing is set in stone!
While you are logged into your account,
you can save your progress in the School of Pipsology!
- What is a Japanese Candlestick?
- Sexy Bodies and Strange Shadows
- Basic Candlestick Patterns
- Lone Rangers - Single Candlestick Patterns
- Double Trouble - Dual Candlestick Patterns
- Three's Not A Crowd - Triple Candlestick Patterns
- Japanese Candlesticks Cheat Sheet
- Summary: Japanese Candlesticks