Crypto Academy Week 2 Homework| Course 2 || How To Read Candlestick Charts

Candlestick Charts

I will try to explain to you how to read a picture of candle stick. this is one of the basic information that is very much needed to start trading or understanding the trading version. When we trade in forex or cryptocurrency, we need to get information and research to make it possible that when the price is high or what is the best time to buy any currency at the right time, the candlestick is also the chart information and guidelines for the cryptocurrency trader.

google

people trust the research with candlestick because it is easy to read and understand; we can read it in many ways, so online candle stick, so it's one of the easy ways to do research on buy sales. candle stick research is a basis for selling and buying. what is the best time to sell coin or assets when we need to buy? but we must also understand that it is not a gurrant that you will get profits if you trade on the basis of candle chart, so we can say that candle stick is a safe place to start trading.

if we read carefully candle stick time frame chart, we get below type of main element that lead us to understand the candle stick chart so these below elements are the main elements to understand the market trend in any trading field

• Open Price
• High Price
• Low Price
• Close Price
• Price Direction
• Price Range
• Interpreting Patterns

When you first open a chart to start analysing it, it is better to take a top down approach.This means you should start on a relatively higher time frame and work your way down to a relatively lower one.What you should be trying to identify at this stage is what the dominant, medium term and short term price trends are.When you trade in the same direction as the dominant price trend, the probability of making profitable deals increases.The image below shows three charts for the AUDUSD.The chart to the left is a 1H (one hour intervals) candlestick chart. In the middle is a 4H (four hour intervals) candlestick chart. The chart to the right is a daily candlestick chart.soruce

Time Frame

time frame mean that if any trader is going to start trade on any exchange , he make plan of time frame. some trader love to trade short time , and there are many who love to trade on long term. but there are few people that love to trade just for short period of mints, for example if a trader make trade just for 10 mints, and 15 mitns or 10 mints then it is also frame chart of trading that count the period of trade.

so there are many trader who love to trade monthly , or over monthly, its mean that one person buy steem dollar at the price of $0.20 rate in trade,, but now he want to sell these steem dollar on high price then he will try to trade for long time. so if he want to sell the buying steem dollar on $1 dollar then then he will set the price in spot trade for long time,, in one month according to base on candle stick he will set the trade , this will be over one month, becasue he know that this will give him one month long trade

so in this way trader set and read the frame chart

• monthly candle stick chart
• daily candle stick chart
• weekly candle stick chart
• half day candle stick chart
• one hours candle stick chart
• 30 mints candle stick chart
• 15 mints candle stick chart

it is the method of separating the candle stick frame time chart. we will find every candle stick time frame chart in chart.

very easy chart to read

in short words that Candlestick charts are a useful tool to better understand the price action and order flow in the forex market. However, before you can read and explain a candlestick chart, you must understand what it is and become comfortable identifying and using candlesticks patterns.image reference

Thanks . @steemcurator01 and @steemcurator02

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@stream4u
@steemitblog
@steemcurator01
@steemcurator02

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image reference

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