✅Candlestick Reading ✅

To understand candlestick reading, you must know the shapes of the candles at open and close, and there are 6 shapes:

1 - Long Green Candle: Indicates the victory of buyers and control over the market. Or a long Red Candle indicates the victory of sellers and control over the market.

2 - Green Candle with a Medium Body and Long Lower Wick: Means the sellers attempted to push the price down, but in the end, the price returned up and closed green, indicating buyer victory. For the red one, the wick means buyers attempted but sellers ultimately won.

3 - Similar to the first candle but with some resistance from both sides.

4 - Medium or Small Body Red or Green Candle with a Long Wick: Indicates a long battle between them, and no one won, meaning the result is a draw.

5 - Long Wick Green Candle: The upper wick indicates the strength of buyers, but sellers also resisted them, closing the candle with a small body. The red one indicates the strength of sellers, but buyers resisted them, closing with a small red body.

6 - Doji Candles: The opening price is the same as the closing price, and they usually indicate a price reversal; we will discuss them in more detail in the types of candles.

All the candles mentioned are forms of Japanese candlesticks that are useful for reading a single candle, and by combining more than one candle, patterns and types are formed.