candlestick analysis is the japanese pattern of stock market analysis.candlestick pattern are constructed by drawing one box and one thin line above and below the box.
open,high,low,close prices are the inputs required to draw candlestick patterns.
daily charts has the highest weightage when compared to others.
analyst give highest weights to closing price because it determines the perfomance of the stock on the current day.
volume needs to do candlestick analysis because it gives the real status.
six months chart is better to understand market trend.
it can forecast the market probably around 60%.
candlestick analysis are easy to understand and gives earlier indication of market direction.