Candlestick charts is the best chart to get positive results for technical analysis of currencies
Candlestick charts translate the market and give good expectation for next stations for currencies prices
Used in marking pips transformation of market trend if it's bearish or bullish
Candlesticks have shapes and names like hammer, shooting star and hanging man ...ect , all are very useful to expect and sense the next market movements
: Candlesticks Bodies and Shadows
: First : Candlesticks Bodies
Candles like a humans have bodies and different sizes , and for Forex trading the most thing make the trader tired is "candlestick body examination" but wait It's not difficult here with us
: Long Bodies Candlestick
Long Bodies Candlestick mean to "the buy" or "the sell" with large volume , and the activity of the trading which happened was big activity which make candlestick body is long
: Short Bodies Candlestick
Short Bodies Candlestick mean to"the buy" or "the sell" with simple volume , and the activity of the trading which happened was little which make candlestick body is short
Here New Term Appears ... The Bulls and The Bears
Bulls mean " Buyers" or " Bullish" in Forex trading
If candlestick colored in green that's mean there're more buy deals ,cause is the close price for the candlestick become above of the open price and that's mean currency price is rising , analysts say in this case the bulls kicked the bears
Bears mean "sellers" or "bearish" in Forex trading
If Candlestick colored in red that's mean there're more sell deals , cause is the close price for the candlestick become under of the open price and that's mean currency price is falling , analysts say in this case the bears caught the bulls horns
: Second : Candlestick Shadows
Most of Candlesticks have shadows , these shadows provide us important analysis ideas about the market
: High Shadow
High shadows show that the trading was on the highest price during a period
If candlestick has high shadow that's mean the buyers were strong and pushed the prices to high but for some reason the sellers caused prices falling again to close the deal near the open price
: Low Shadow
Low shadow show that the trading was on the lowest price during a period
If candlestick has low shadow that's mean the sellers were strong and pushed the prices to low but for some reason the buyers caused rising price again to close the deal near the open price
If th candlesticks have high and low shadow that's mean the buyers and the sellers are reluctant and almost if this candlestick showed it's reflect the previous trend
: Long Shadows
If candlestick has long shadow whether up or down that's mean the previous deals were very good and it achieved big profit
: Short Shadows
When the shadow is short up or down that's mean that's the previous deals were confined between the close price and open price and the profit was small
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