Candle stick analysis is a technical analysis and it is the simple and powerful analytical method. It was invented by Japanese to understand the demand and supply. It provides short term trend analysis. It explains the day price pattern. General forecasting duration using candlestick analysis is 4 to 5 days.
Candle stick analysis can be used by positional traders. It is a reversal pattern. The volume indicates the presence of buyers and sellers. It conforms the direction of the market.