Learn price action basics and candlestick charting fundamentals.
In this video I am going to go into the basics of Candlestick charting. How to read Candlestick charts? Where did candlestick charting originate and who is one of the traders that popularized these charts here in the states? What the colors represent in relation to the actual emotions that are driving a market regardless of if it is stocks,forex,futures or CFD?
You will find out how to read japanese candle sticks and unravel all the details that you can about the price and emotions embedded in each candle. I talk a lot about the three basic candlestick patterns that make up price action in every market. You will also learn about the two emotions that run every market and how to spot them to different degrees in every candlestick. Price action interpretation is a very subjective skill that will only develop with the proper amount of observation and practice but I try to share all the most essential core concepts you need to find your way on this journey into trading regardless of if you trading Binary Options,forex,stocks,CFD,Emini or futures all markets will follow these essential 3 patterns and be driven by these 2 emotions.
We will look at dynamic Candlestick charting patterns both bullish and reversals and we will talk a bit about translating this price action on the chart into human emotions and behavior that you can trade around. We will look at bullish candlestick patterns and Reversal candlestick patterns as well as some Consolidating or also called range bound chop candlestick patterns. Often these patterns are completed with popular candlestick formation like the hammer and upside hammer and shooting star but I don't go into that in this particular video because I am really just trying to touch on the essential core concepts in this candlestick charting tutorial.
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