Today, we're going to be looking at classic Japanese candlestick charts. Candlestick charts were first used in Japan over two centuries ago by rice traders to chart rice prices. This system of charting has been around for a long time and can be valuable to traders everywhere. Japanese candlestick charts are now widely available on the web and in most software packages.
Candlestick charting shows, in a very visual way, a powerful picture of what's going on in the markets. Candlestick charts use individual lines that look like candles, hence the name, and are comprised of a real body and shadows. There are a number of formations that take place, both bullish and bearish, that can provide traders with valuable information.
I first discovered candlestick charting during a speaking engagement in the early 90s in Japan. Up until that time, I had used traditional Western bar charts and point and figure charts, which I also like. When I first saw a chart that had been drawn in candlesticks, I was immediately hooked, as I could see how candlestick charts show a visual image of what is going on in any market. In this tutorial on understanding candlestick charts, you will see some of the most powerful setups and learn all about the various candlestick formations and how you can use them successfully in various markets.
This short video shows you not only classic textbook examples, but also real world examples. I hope you find the video lesson interesting and of value to your own investment knowledge.
Every success using candlestick charts in the future, Adam Hewison
In today's video, I will be talking about candlestick charts and just how powerful they are when they are used correctly. This form of charting began centuries ago in Japan, where rice merchants used candlestick charts to track the price of rice, a major commodity in that country.
Unlike Western charts, Japanese candlestick charts can have colorful names and modern interpretations can have colorful candlestick bodies to better highlight price movements. The candlesticks are normally made up of a "body" and an upper and lower "shadow" (or "wick").
Loading the player...
Today, I am offering my PDF booklet, "17 Money Making Candlestick Formations You Can Use Today In MarketClub."
If you don't already have a copy of this e-book that shows you all 17 major candlestick formations, give us a call at 1- 800-538-724, extension 106 or 410-867-2100, extension 106. You may also email [email protected].
Enjoy the video and put the power of candlestick charts to work for you today.
Consistent, successful trading requires a systematic approach that you are 100% confident in. When talking to today's guest blogger and INO TV author Gary Wagner of "Forex Gold Forecast" a few days ago about recent trades, it amazed me how confident he was in his own technical analysis. I thought it would make a good article for the Trader's Blog so I had him write down a few thoughts on trading and how he has utilized his own system.
Effective trading is a science, but it is also an art. Choosing the scientific models (technical indicators) you wish to combine to create your trading methodology requires a journey. A journey over time, through which by trial and error you will arrive at an approach that is successful. You need to assemble a toolbox of technical indicators like an artist assembles brushes. Just as each brush creates a different effect, each technical indicator reveals distinctive information about the market. Knowing which technical brushes to use and when to use them is essential. It will provide the trader with the tools needed to create an effective systematic approach. Continue reading "Candle Sticks, Gold and a Trader's Journey"→