Thread by @Stocktwit_IN

In Technical Analysis, a candlestick pattern is a movement in prices shown graphically on a candlestick chart that some believe can predict a particular market movement.

thread 🧵 👇 with @valuelevels
& @TradingView_IN

#TechnicalTrades #TradingView

@valuelevels @TradingView_IN History:
Some of the earliest technical trading analysis was used to track prices of rice in the 18th century. Much of the credit for candlestick charting goes to Munehisa Homma (1724–1803), a rice merchant from Sakata, Japan who traded in the Ojima Rice market in Osaka

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@valuelevels @TradingView_IN Formation of the candlestick:
Candlesticks are graphical representations of price movements for a given period of time. They are commonly formed by the opening, high, low, and closing prices of a financial instrument.

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@valuelevels @TradingView_IN Big Black Candle Has an unusually long black body with a wide range between high and low. Prices open near the high and close near the low. Considered a bearish pattern.

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@valuelevels @TradingView_IN Big White Candle Has an unusually long white body with a wide range between high and low of the day. Prices open near the low and close near the high. Considered a bullish pattern.

@valuelevels @TradingView_IN Black Body Formed when the opening price is higher than the closing price. Considered to be a bearish signal.

White Body Formed when the closing price is higher than the opening price and considered a bullish signal.

@valuelevels @TradingView_IN Doji Formed when opening and closing prices are virtually the same. The lengths of shadows can vary. If previous are bearish, after a Doji, may be ready to bullish.

@valuelevels @TradingView_IN Long-Legged Doji Consists of a Doji with very long upper and lower shadows. Indicates strong forces balanced in opposition. If previous are bullish, after long legged doji, may be ready to bearish.

@valuelevels @TradingView_IN Dragonfly Doji Formed when the opening and the closing prices are at the highest of the day. If it has a longer lower shadow it signals a more bullish trend. When appearing at market bottoms it is considered to be a reversal signal.

@valuelevels @TradingView_IN Gravestone Doji Formed when the opening and closing prices are at the lowest of the day. If it has a longer upper shadow it signals a bearish trend. When it appears at market top it is considered a reversal signal.