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Japanese candlesticks (I)
Where do Japanese candlesticks come from? Candlestick charts are thought to have been developed by Munehisa Homma, a Japanese rice trader. He developed a method of analyzing the futures market to predict the prices of rice contracts. This m...
Japanese candlesticks (II)
We will consider a number of patterns which comprise of two or more Japanese candlesticks. It should be noted, that they are of limited use on Forex as they presuppose that the closing price of the prior trading period and the opening price...
Candlestick shadow
The distance between the candlestick body and the maximum day price in the form of a vertical line is called the candlestick upper shadow (uwakage). The distance between the candlestick body and the minimum price is also depicted as a line...
Chart types
Forex graphic charts are usually made in two coordinates - the price (shown on the vertical y-axis) and the time (shown on the x-axis). Sometimes the tick volume chart is also made along the y-axis. The time–axis scale (also called interval...
Gap on the chart
A gap is a discontinuous space on the price chart which may appear during rapid price changes. On the chart, a gap looks like an area where the price moves sharply up or down, which creates a space between the closing level of one trading p...
