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Showing results for tags 'charting'.
Found 8 results
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Hello! I am new to this forum. I am interested in learning about candlestick reading. I would appreciate hearing from any that will answer this post WHICH book you found the most helpful?
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An inverse saucer looks like a rounded top. It signifies a capping of prices and is a bearish reversal signal.
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Heiken-ashi, the Japanese term for “average bar”, is a charting technique that is used to better visualize price trends by eliminating irregularities. This is achieved by recalculating the candlesticks using a modified formula to create an average for the open, close, high and low of the day.
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Daily Charts are one of the most common charts used by technical traders, as these charts give traders an idea of the sentiment activity that is seen during each trading session, rather than in one section of a trading session.
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A Broadening Formation is seen when market activity is seeing relatively high levels of volatility. Sometimes called a “megaphone pattern” because of the broadening shape of the pattern, traders view this formation as an asset that lacks clear trend direction or a clearly defined trading range. In many cases, traders view these formations as a sign that trades should not be initiated until market volatility starts to calm.
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Weekly chart is to use to predict long term view of an instrument, as it shows more historic price movement than of same period day chart, Analyst view to see weekly chart can vary as the weekly line chart shows only closing price, bar chart shows opening and closing while candlestick chart will present open, high, low and close for the week.
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5 minute charts are one of the most common time frames used by technical analysts. These charts can vary in appearance, depending on which type of chart is used (such as a bar chart of candlestick chart) but the essential price activity is the same, and this is also true for the highs and lows that are registered during each one five minute period. In some cases, these shorter term charts are used to identify reversal points in longer term time frames, such as hourlies or dailies.
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One Hour charts are one of the most common time frames used by technical analysts. These charts can vary in appearance, depending on which type of chart is used (such as a bar chart of candlestick chart) but the essential price activity is the same, and this is also true for the highs and lows that are registered during each one hour period.
