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Candlestick Charts - Learn Techniques from Steve Nison

The shadow is the portion of the trading range outside of the body. We often refer to a candlestick as having a tall shadow or a long tail .

Generally speaking, the longer the body is, the more intense the buying or selling pressure. Conversely, short candlesticks indicate little price movement and represent consolidation.

The shooting star is a bearish reversal candlestick indicating a peak or top. It is the exact inverse version of a hammer candle. The star should form after at least three or more subsequent green candles indicating a rising price and demand. Eventually, the buyers lose patience and chase the price to new highs (of the sequence) before realizing they overpaid.

Bullish Engulfing pattern is formed when a small solid Candlestick is followed by a large hollow Candlestick which completely 'engulfs' the smaller Candlestick. It indicates that the buyers have taken control of a stock's price movement from the sellers.

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Candlestick charts are one of the most popular chart types for day traders. Learn how to read these charts and apply them to your trading.

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The highs and lows of the session will be shown by how far the upper and lower wicks travel.  There will be times where no wicks appear and that is called a “shaved candlestick”.

There are only two groups of people in the stock market. There are buyers and sellers. We want to find out which group is in control of the price action now. We use candles to figure that out.



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