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| TECHNICAL
ANALYSIS |
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Candlestick
Japanese
candlesticks
offer a better
visual perspective
to predict
future market
action than
bars. Intraday
charts with
clear japanese
candlestick
pattern are
invaluable
for entry
and exit strategies.
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In
order
to create
a candlestick
chart,
you
must
have
a data
set
that
contains
open,
high,
low
and
close
values
for
each
time
period
you
want
to display.
The
hollow
or filled
portion
of the
candlestick
is called
"body"
.
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The
long thin
lines above
and below
the body represent
the high/low
range and
are called
"shadows"
(also referred
to as "wicks"
and "tails").
The high is
marked by
the top of
the upper
shadow and
the low by
the bottom
of the lower
shadow.
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If
the
stock
closes
higher
than
its
opening
price,
a
hollow
candlestick
is
drawn
with
the
bottom
of
the
body
representing
the
opening
price
and
the
top
of
the
body
representing
the
closing
price.
If
the
stock
closes
lower
than
its
opening
price.
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A
filled candlestick
is drawn with the
top of the body
representing the
opening price and
the bottom of the
body representing
the closing price.
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Candlestick
Formation
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Bearish
3
Pattern
:
A
long
black
body
followed
by
several
small
bodys
and
ending
in
another
long
black
body.
The
small
bodys
are
usually
contained
within
the
first
black
body's
range.
Interpretation
:
A
bearish
continuation
pattern.
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Bearish
Harami
Cross
Pattern
:
A
Doji
contained
within
a
large
white
body.
Interpretation
:
A
top
reversal
signal
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Bearish
Harami
Pattern
:
A
very
large
white
body
followed
by
a
small
black
body
that
is
contained
within
the
previous
bar.
Interpretation
:
A
bearish
pattern
when
preceded
by
an
uptrend.
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