Understanding candles - How To Grow Your Trading Accuracy - Practical Tutorial

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Intraday trading is a method of investing in cryptocurrencies where the trader buys and sells cryptocurrencies on the same day without any open positions left by the end of the day. Hence, intraday traders try to either purchase a cryptocurrency at a low price and sell it higher or short-sell a cryptocurrency at a high price and buy it lower within the same day. This requires a good understanding of the market and relevant information that can help them make the right decisions. In the cryptocurrency market, the price of a cryptocurrency is determined by its demand and supply among other factors.

Tools such as candlestick chart patterns offer great help to traders.

$ We will talk about these Candlestick Charts and offer steps to help you read them.

What are Candlestick Graphs/Charts?

Candlesticks are a visual representation of the size of price fluctuations. Traders use these charts to identify patterns and gauge the near-term direction of price in the cryptocurrency market.

Composition of a Candlestick Chart

This is how a candlestick chart pattern looks like: