The candlestick analysis can be used as a technical analysis,for weekly traders as the patterns indicate only for few days.
PATTERNS ARE:
Engulfing,DOJI,Piercing, Hammer and Hanging Man.

  • : Candle stick analysis is used to know the trend for a short period,usually weekly time period,by using daily candle patterns evolved from Japanese to western countries.
  • : usually a week.
  • : Weekly traders can use candle stick analysis to trade in the market.volume plays a major role as for the reversal to happen it needs to be high volume.
  • : After a significant rise or fall, the previous day body should be completely covered by the current day's body with opposite color with high volume, is to be known as engulfing pattern. After a downward trend a engulfing pattern appears it is time to buy and if its a upward trend and a engulfing pattern appears it is a sell order.
  • : After a significant low trend, covering of previous pattern with at least 50% of the body with no upper tail is a piercing pattern. It indicates the trend to be reversed Buy = Above the upper tail (highest of the two candles)when its been appeared after a downward trend. Sell= Below the lower tail {obviously the latest candle) after a uptrend.
  • : DOJI is a neutral pattern. DOJI appears after significant rise or fall in price with good amount of volume. DOJI is to be used a powerful reliable source of reversal pattern.
  • : Bullish DOJI - Morning star(buy,after signifiacant price drop) Bearish DOJI - Evening star (sell,after signifiacant price increase)
  • : Both are powerful and rare patterns of reversal trend technics its popularity is high because of its accuracy. both are opposite to each other from their conditions to satisfy. Buy at hammer(green in color) Sell at hanging man(red in color)
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