Last night, I spent some time reading about candlesticks (in candlelight…haha..). Till then, I didn’t know what exactly this charting technique is about and what those shapes mean.
But I wanted to. Why? Because I am still trading based on my “feelings” and “observations” and though I don’t mean to discount these, I certainly want to add “Technical Analysis” to my trading repertoire. The first step (logically) in any technical analysis is to learn the language used to do the analysis. Charts in this case. Bar charts, candlestick charts, etc.
Anyways, here are some few useful resources if you want to get started with candlesticks
The Art of Candlestick Charting – Part 1
Swing Trading By Candlelight
Candlestick Q&A
Now that I understand what the candles mean, I am going to spend some time tonight trying to understand the various commonly used candlestick patterns.
Then lets see if it helps in real trading.
