Candle Stick (CS) is Japanese way of understanding demand & supply.
Candle stick- for traders to buy & sell shares within a week. Buy today –hold it for 3-4 days- if any movement, then selling it.Cannot use for Intraday
CS is simple & powerful analytical method
Dowtheory& Price patterns understands Demand & Supply from a long term perspective, CS for short term perpestives.
Ensure there is a recent price fall. Volume should be high except for engulfing pattern. Buying should happen at above the previous day’s high and exit should be at previous day’s low. For engulfing and piercing pattern: Target = previous day’s high+risk taken. For DOJI and hammer / hanging man: Target = previous day’s high+2*risk taken.