3.28 Recap – Japanese Candlesticks

 
It might be a good idea to take stock of what we learnt about Japanese candlesticks – a quick refresher!
 
Here’s a candlestick drawing with all the parts neatly labeled.
 
Parts of a candlestick.
 
Does all the jargon come flooding back?
 
OK here’s some Q & A.
 
  • Q) What’s a hollow candle?
  • A) In black & white charts , a candle whose close is higher than it’s open. In multicolored (multicoloured) charts this candle is green in color.
 
  • Q) What’s a filled candle?
  • A) In black & white charts , a candle whose close is lower than it’s open. In  multicolored  (multicoloured) charts this candle is red in color.
 
  • Q) What are long bodies?
  • A) Long bodies refer to trading sessions with strong buying or selling and where the close was substantially higher or lower than the open.
 
  • Q) What are short bodies?
  • A) Short bodies refer to trading sessions with very little buying or selling and where the close was not substantially higher or lower than the open.
 
  • Q) Upper shadow?
  • A) Session high.
 
  • Q) Lower shadow?
  • A) Session low.
 

A summary of patterns we learnt:

 

 

Type (LOL!)

 

 

How many candles

 

Names of patterns

Lonesome Cowboys

(Standalone kind)

One

Marubozu, Spinning Top, Doji, Hammer, Hanging Man, Inverted Hammer, Shooting Star

Two to Tango

Two

Bullish Engulfing, Bearish Engulfing, Bullish Tweezers, Bearish Tweezers

Three Musketeers

Three

Morning Star, Evening Star, Three White Soldiers, Three Black Crows, Three Inside Up, Three Inside Down

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