A candlestick is always made up of four parameters namely, open, high, low and close. The distance between the open price and close price comprises the body of the candle. The distance of the body from high and low prices of the session are marked by wicks. A candlestick having long wick at the bottom…
As the name suggests, single candlestick patterns involve only one candle. It means that only one period’s price action would be comprised in it. Single candle patterns gain importance when observed after a prolonged uptrend or downtrend. Most of the single candlestick patterns like Hammer or Spinning top indicate potential reversal. So they can be…
Charts are the indispensable part of technical analysis. They are the best means to capture price movement of any security or indices. They are two dimensional graphical presentation of the historical price fluctuations. In their most popular forms, they represent the price in an X-Y plane with price scaled on Y-axis (vertical) and time on…
Technical analysis is the study of market actions, primarily through the use of charts, for the purpose of forecasting future price trends – John Murphy
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