Candlestick analysis and the Markets

The candlestick patterns are the short term patterns for trading lasting for 5 to 7 days.
The candlesticks patterns are used by the Japanese rice trader for more than 300 years.
The candle stick has the four values of open, high , low and close. The candle stick pattern give visual interpretation of the emotions of the traders mind. Depending upon the emotions of the traders various patterns like engulfing, piercing, star and hammer are formed.
These patterns are to be considered not only on there appearance, but taking into the consideration of the overall pictures of the last few days of the market and what is the location of these patterns. Candlestick patterns are for short term trading purpose of over the week, unlike price patterns where the trading outlook is for few weeks to few moths and Dow theory, where trading approach is for many months or a year.
The candle stick charts became popular, with real time availability due to computer revolution and they have taken over the bar and line chart for use in trading analysis.