Best Candlestick Chart Pattern PDF Guide 2024

Trading with any market is always not the result of the profit. In the business it is not necessary that at every movement the businessman or in the trading the trader will get profit. Sometimes this may result in the form of the profit High Profit Candlestick Pattern and also may be a loss. Sometimes on a short investment the investor may get a large profit. But at some points the large investment may be the result of a big loss. This is the rule of the business or trade.

There are the possibilities of the risks. The risk can come in the form of the loss. There are different techniques and methods that are specially designed for the management of the risk.

These techniques overcome and alerts about the risky factors to the traders. This can tell about the present and the future risk. The traders used these techniques and tools to know about the future and current risks that can occur at any level of the trading.

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Best Candlestick Pattern PDF Guide

Candlestick Pattern

So now come towards our main topic that is Candlestick Pattern. Basically, the Candlestick Pattern is a method or a source of communication. The communication is totally about the price movement. The Candlestick Pattern describes about that how the price movements move in the market trading at different levels. For the candlestick pattern the candlestick charts are used that are provided to the traders. These candlestick charts are provided on the platform of the trading.

These platforms are the ThinkForex trading platform. Because the Candlestick Pattern is also a trading strategy of the forex. This forex strategy can be used with any other forex trading strategy. This Candlestick Pattern can also be used for any type of the currency pair that are used in the forex market. The forex platforms are the platforms that the individuals can do easily trade on it.

Candlestick Pattern charts

If we talk about the Candlestick Pattern charts then there are some key points about the Candlestick Pattern chart. In the Candlestick Pattern chart there are two axis the one is vertical axis and the second is the horizontal axis. These both axes perform different functions of the trading.

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The vertical axis is on the right side of the chart and the horizontal axis is in the bottom direction of the chart. The vertical axis tells about the price movements and the horizontal axis tells about the time of the trade. This shows the timeline results.

Working of the Candlestick Pattern

The Candlestick Pattern chart contains also on the bars. Bars are made up of with the small tiny lines. And these small tinny lines move from top to bottom on the Candlestick Pattern chart. The traders call them candles on the chart. As we have studied that the Candlestick time are the way of the communication so the Candlestick plays some roles in the chart of the market trading. We will discuss them one by one. The Candlestick tells about the four major factors and gives information to the traders. The first one is about the open price, the second one is about the close price, the third one is about the high price and the last one is about the low price.

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Basically, the candles tell about the time units. The candle tells about the time frame that the trading is a day trading and then tells its open, close, highand thelow-price values. In the Candlestick Pattern chart one chart displays about the one-day results. There are different candlesticks such as the hammer and the doji. These candlesticks perform different function in the market trading.

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Bullish and bearish candlestick

The horizontal axis on the chart tells about the time. This tells that which candles is relates with the which day. Its means that this also tells about the previous time days as well as the current time days.

There are two types of trends as we know about these trends the one is bearish trend and the second is the bullish trend. When the trend of the market is up then the trend will come in the bullish form and when the trend become down then the trend come in the bearish form. The bullish trend indicator tells that the trend strength is strong and the trader will earn profit from his trading. So here also there are two type of candles names as the bullish candle and the second is bearish candle. There is also a concept of the color scheme in the Candlestick Pattern.

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Open, low, High and Close

The color scheme of the Candlestick Pattern tells about the open, low, high and close factors on the chart. This tells that when the prices will high and when the prices will low. So, if the color of the candle on the chart is in the red color then it indicates that there is a bearish trend of the trade and the open price of the movement trade is lower as compare to the close price of the trade.

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Here the trend of the market will be bearish with the red bar lines on the chart and if the color of the candle on the chart is in the green color then it indicates that there is a bullish trend of the trade and the  open price of the movement trade is higher as compare to the close price of the trade. Here the trend of the market will be bullish with the red bar lines on the chart.

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Role of helper for the traders

The Candlestick Patterns helps traders in the market trading. The traders that are interested in the price action type trading then they can use this Candlestick Pattern indicator. This will be beneficial for them. This tells traders about the behavior of the other market traders and the traders that are on the highest level of the trade. This tells about the well experiences and professionals. The traders can take part in the price moves in the market trading.