Candlesticks are graphical representations of price movements for a given period of time. They are commonly formed by the opening, high, low, and closing prices of a financial instrument. It gives a complete idea about the share in a particular day that Red or Black reflects Bear candle and Green and white reflects Bull candle.
Learning Candlestick patterns WILL improve one’s ability to recognize trading opportunities and enter/exit better trades. The role of Volume indicates strength/weak of the candlesticks pattern, when a stock breaks critical level without volume, one can consider the breakout is SUSPECT and price for a reversal off the highs/Lows.
Pattern of candlesticks generally using by traders are:-
(a) Engulfing pattern
(b) Piercing pattern
(c) Doji or star (Morning star/Evening star)
(d) The hammer (Bullish reversal) and the hanging man (Bearish reversal) are both candlestick patterns that indicate trend reversal.
good work sir