Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency Trading => Topic started by: bambam on January 09, 2018, 09:21:49 AM
-
(https://s3.amazonaws.com/cdn.freshdesk.com/data/helpdesk/attachments/production/9041030200/original/x9lYnHx9P4yXGTNUZ648g0jPoU0sLPB1kg.jpg?1512120335)
There are 3 specific points: Open, Close & Wick that are used in the creation of a price candle.
The first points to consider are the candles open and close prices. These points identify where price began and ended for a selected period and will create the body of a candle. It is important to note the color of the body of a candlestick (red for down and green for up). With this, candlesticks can help to quickly identify if the market is trading higher or lower for a selected period.
Next are the wicks of the candlesticks, also be referred to as shadows. These are vital points that show the extremes in price for a specific charting period. Wicks are easily identifiable as they appear visually thinner than the body of the candlestick.
-
Good Job friend. It's basic stuff but it can still help some people, consider making it a full thread of things beginner should know
-
(https://s3.amazonaws.com/cdn.freshdesk.com/data/helpdesk/attachments/production/9041030200/original/x9lYnHx9P4yXGTNUZ648g0jPoU0sLPB1kg.jpg?1512120335)
There are 3 specific points: Open, Close & Wick that are used in the creation of a price candle.
The first points to consider are the candles open and close prices. These points identify where price began and ended for a selected period and will create the body of a candle. It is important to note the color of the body of a candlestick (red for down and green for up). With this, candlesticks can help to quickly identify if the market is trading higher or lower for a selected period.
Next are the wicks of the candlesticks, also be referred to as shadows. These are vital points that show the extremes in price for a specific charting period. Wicks are easily identifiable as they appear visually thinner than the body of the candlestick.
Thank you for sharing this my friend as it will help those beginners who wants to learn about candlesticks. :)
Candlesticks can be defined as OHLC; Open, High, Low, and Close. If the candlestick is green, it the Open is the lower of body while Close is in the Top. But when it is red, the Open is the top of the body and the Close in the low. Those wicks can be specified as High if it's in the above of the body and it's Low if it's below the body, no matter what the color of the candle is it.
-
(https://s3.amazonaws.com/cdn.freshdesk.com/data/helpdesk/attachments/production/9041030200/original/x9lYnHx9P4yXGTNUZ648g0jPoU0sLPB1kg.jpg?1512120335)
There are 3 specific points: Open, Close & Wick that are used in the creation of a price candle.
The first points to consider are the candles open and close prices. These points identify where price began and ended for a selected period and will create the body of a candle. It is important to note the color of the body of a candlestick (red for down and green for up). With this, candlesticks can help to quickly identify if the market is trading higher or lower for a selected period.
Next are the wicks of the candlesticks, also be referred to as shadows. These are vital points that show the extremes in price for a specific charting period. Wicks are easily identifiable as they appear visually thinner than the body of the candlestick.
Only with this information will not take you anywhere in trading because trading depends on many factors which makes the movement of the market unpredictable. It's better that you take your time to invest in bitcoin and hodli because the risk of your losing your asset is limited, but trading exposes your asset to losses.
-
(https://s3.amazonaws.com/cdn.freshdesk.com/data/helpdesk/attachments/production/9041030200/original/x9lYnHx9P4yXGTNUZ648g0jPoU0sLPB1kg.jpg?1512120335)
There are 3 specific points: Open, Close & Wick that are used in the creation of a price candle.
The first points to consider are the candles open and close prices. These points identify where price began and ended for a selected period and will create the body of a candle. It is important to note the color of the body of a candlestick (red for down and green for up). With this, candlesticks can help to quickly identify if the market is trading higher or lower for a selected period.
Next are the wicks of the candlesticks, also be referred to as shadows. These are vital points that show the extremes in price for a specific charting period. Wicks are easily identifiable as they appear visually thinner than the body of the candlestick.
On point mate, though the knowledge posted are the basic/beginning of trading, they are still essential in trading because the foundation holds the complex.
As a beginner, the knowledge of the candlesticks are vital but as you progress further you'll come to understand that they are stepping stones to the main knowledge which are the various candlestick patterns used to analyze the market trend.
There you have the;
Bullish Engulfing
Bearish Engulfing
Morning Star
Doji, etc.
But I will advice you not to go into trading yet, because the depth is beyond candlesticks pattern, there are other related factors that one needs to understand very well to be able to become a successful trader.
Investing on good Crypto assets will be much more better for you as it is associated with less risk and at the long run, you'll generate alot profit.
-
~
You will become better at understanding the candlesticks and trading the market when you are consistent with learning. There are many resources online that can broaden your knowledge, and if the resources are too difficult to assimilate, you should seek mentorship.
-
~
You will become better at understanding the candlesticks and trading the market when you are consistent with learning. There are many resources online that can broaden your knowledge, and if the resources are too difficult to assimilate, you should seek mentorship.
I even only get guidance from articles and videos available on the internet and this depends on how one is willing to learn seriously and this is also about habits, If you are used to it then in the end you will know how the indicator tool provided to do price predictions.
Try and keep trying using various Indicators so that you will find which indicators are suitable and can be used well.
-
(https://s3.amazonaws.com/cdn.freshdesk.com/data/helpdesk/attachments/production/9041030200/original/x9lYnHx9P4yXGTNUZ648g0jPoU0sLPB1kg.jpg?1512120335)
There are 3 specific points: Open, Close & Wick that are used in the creation of a price candle.
The first points to consider are the candles open and close prices. These points identify where price began and ended for a selected period and will create the body of a candle. It is important to note the color of the body of a candlestick (red for down and green for up). With this, candlesticks can help to quickly identify if the market is trading higher or lower for a selected period.
Next are the wicks of the candlesticks, also be referred to as shadows. These are vital points that show the extremes in price for a specific charting period. Wicks are easily identifiable as they appear visually thinner than the body of the candlestick.
(https://s3.amazonaws.com/cdn.freshdesk.com/data/helpdesk/attachments/production/9041030200/original/x9lYnHx9P4yXGTNUZ648g0jPoU0sLPB1kg.jpg?1512120335)
There are 3 specific points: Open, Close & Wick that are used in the creation of a price candle.
The first points to consider are the candles open and close prices. These points identify where price began and ended for a selected period and will create the body of a candle. It is important to note the color of the body of a candlestick (red for down and green for up). With this, candlesticks can help to quickly identify if the market is trading higher or lower for a selected period.
Next are the wicks of the candlesticks, also be referred to as shadows. These are vital points that show the extremes in price for a specific charting period. Wicks are easily identifiable as they appear visually thinner than the body of the candlestick.
- What you are saying is simple and I don't see anything wrong with what you mentioned. So the simple logic is that when the candlestick turns green at the bottom, the open position is open and if the candlestick is Red at the top, it's very basic, right?
And in the wick whether Red or green candlestick, that is the highest or lowest price of a coin/token, so thank you for these tips, op.
-
~
You will become better at understanding the candlesticks and trading the market when you are consistent with learning. There are many resources online that can broaden your knowledge, and if the resources are too difficult to assimilate, you should seek mentorship.
It's hard to see a good mentor in trading because all those people out there claiming to be making millions from trading are liars and wants people to see them as professional so that they can start collecting money from you with fake signals. Only you can learn on your own, practice with little amount that you can afford to lose, and gradually you will be improving till you get a good strategy that works for you. The trading strategy that works for Mr A, might not work for Mr B.
-
Good Job friend. It's basic stuff but it can still help some people, consider making it a full thread of things beginner should know
you might be barking up the wrong tree mate
this person’s last post was way back in 2018 i do not expect him to see your reply and decide to come back and post a thread about it besides i am sure there are many resources that have compiled all of these you need to know
i personally just read a book about candles and market patterns it could be any book out there really
-
Good Job friend. It's basic stuff but it can still help some people, consider making it a full thread of things beginner should know
you might be barking up the wrong tree mate
this person’s last post was way back in 2018 i do not expect him to see your reply and decide to come back and post a thread about it besides i am sure there are many resources that have compiled all of these you need to know
i personally just read a book about candles and market patterns it could be any book out there really
- hmmm? In fact, there is no chance for the person who created this topic to revisit the posts of other members here because it has been a while since they last posted.
Now for others to read, many of our members have already created tutorials on this subject, just do some research.
-
---
Now for others to read, many of our members have already created tutorials on this subject, just do some research.
What the OP has shared is the most basics things when it comes to candlestick reading. Well, that might help at least 1 or 2 newbie traders out there, but there are still things that we need to know in order for us to know how to read candlesticks.
One is candlestick types. Which are bullish candlesticks? Which are bearish candlesticks? Examples of them like the Doji candles, the hammer, the star, the engulfing candles and many more. I'm not an expert in candlestick reading, but I believe knowing what type of candlestick it is will help you in analyzing the movement of the market.
-
(https://www.talkimg.com/images/2025/02/02/eGpWb.jpeg)
I'm simple if there is a sign on the chart that shows two red and green signs above when the price has risen quite high, it means getting ready for a decline. Likewise, vice versa if it is obtained in a position to buy.