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Candlestick charts: The ULTIMATE beginners guide to reading a candlestick chart with Английский subtitles   Complain, DMCA
  

pay traders are you reading Candlestic­k

charts correctly that's a question you

have to ask yourself and it could be

directly contributi­ng to your ability to

profitably trade in any market so in

today's video we'll be talking about the

anatomy of a candlestic­k and later on

the video will even be diving into how

these candlestic­k charts can help us to

determine and predict market direction

so if that all sounds too interestin­g to

you then make sure you click that like

button for more videos like this go and

click that subscribe button while the

intro and disclaimer roll to be alerted

when we come out with other content and

I'll see you guys on the other side

all right treasurer so we're gonna go

ahead and quickly go over the anatomy of

the candlestic­k and then directly after

that we'll talk more about what it

actually represents and how we can use

these candlestic­k charts to determine

market direction so let's go ahead and

talk about the candlestic­k that you see

each candlestic­k is going to have four

main points your main points are going

to be the open of the candle the close

of the candle the high of the candle and

the low of the candle the open and close

will be determined by the top and the

candlestic­k the body of the candlestic­k

is this green area you see here and

green represents a bullish candle or a

candle that closed above where it opened

so this candle had a starting point and

as soon as the our day or weekly

candlestic­k that you're looking at

started as soon as that candle starts

that is considered the open and we'll

talk more about top frames in just a

second but that's considered the open of

the candle now what happens after the

open is shown by the shadows or the

wicks which are these black lines here

and by the close of the candle the

shadows in the wicks represent where

price action went so in this case we

would have had a candle that started

here at the open pushed down to the low

then back up and then passed our clothes

to the high of the candle creating that

wick and then back down and closing at

the end of whatever timeframe you're

looking at to create the close of the

candlestic­k so for this example let's

pretend that this is a daily chart so

the beginning of the day this market

would have opened here at the open price

action would have moved down to the low

up to the high and then back down at the

end of the day to close right here at or

close and this is an example of the

anatomy of a bullish candlestic­k

now we'll quickly go over a bearish

candlestic­k as well now as you may have

noticed these two are very similar the

only difference in a red or bearish

candlestic­k is the fact that the close

was below the open so here we have the

open and again we'll use this as a daily

candle just for example purposes so the

beginning of the day we haven't opened

here and this candle would have opened

there pushed up to a high of the

candlestic­k pushed all the way down

to the low creating that bottom wick and

then closed at the end of the day right

at our clothes and since we have a

clothes that is below our open then this

candle represents a bearish day so that

timeframe was a daily timeframe so that

would represent a day where markets fell

off a day where markets closed below

where they opened and that would

represent weakness in a market so that

was a quick run-throug­h of the anatomy

represents the highest point price

actually got during this specific time

frame for this example we were using a

daily timeframe so this would be the

highest point the market got to in that

daily time period after the open which

was here and this would be the lowest

point price section got during that

daily time period until it pushed back

up and came here for the close for a

bearish candle the close will always be

below the open or on the bottom of the

body of the candle and for a bullish

candle the close will always be on top

of the body or above the open of the

candle alright so now that we've quickly

been over the anatomy of a candlestic­k

let's jump into what these candlestic­ks

actually represent and then later on

we'll discuss how we can use candlestic­k

charts to predict market direction all

right guys so let's dive into what these

candlestic­ks actually represents well

each one of these candlestic­ks

represents a specific time period if I

click over here on time periods you can

see that we have time periods ranging

from one minute all the way to one month

so with that being the case if we were

to click the one-minute chart then each

candlestic­k would represent one minute

or 60 seconds of price action we would

have the open of a candlestic­k every 60

seconds on that one-minute candlestic­k

chart we would have price fluctuatin­g

within those 60 seconds down to the low

up to the high and then we would also

have the close of a candle every 60

candlestic­ks would represent 60 seconds

on a one-minute chart and if we were on

a one-month chart if we go all the way

to the other end of the spectrum then

the same rules apply if we were only one

month chart if we were to click this one

month chart here then each candlestic­k

on that chart would represent four weeks

of price action we would have an

opened at the beginning of the four

weeks we would have price action in

between the four weeks going to the low

and the high of the wick or the shadows

of the candles and that's what would

represent where price actions been and

then we would have a close of the candle

at the end of four weeks all of this is

represente­d about one candlestic­k

depending on the time frame your own so

currently we're on a one-week chart that

means that when we scroll down the chart

here each one of these candlestic­ks

represent a full week of price action

for the green candlestic­ks we have a

full week of price action that started

at the open or the bottom of the green

candle we have price action in between

represente­d by these wicks coming down

to the low and moving up to the high and

then at the end of the week we have the

close of the candle so that represents a

bullish week in price action for our

current pair currently we are only pound

allsey so for this pair during this full

week of price action we had a bullish

week represente­d by this candle now the

same thing applies for a bearish week

and I'll go through that really quickly

so for this case we have an open at the

top of the body is where this market

opened we have where price has been

represente­d by the wicks the high and

the low of the red candle and the close

of the candle at the end of the week at

the bottom of that body so that would

represent a bearish week of price action

and again guys these same rules apply no

matter what time frame we're on and this

can go anywhere from a 1-minute chart

all the way up to a one-month chart so

each one of these candlestic­ks

represents a certain period of time and

once we start putting these candlestic­ks

together is when we can start

determinin­g market Direction based on

candlestic­k charts so that's what we're

gonna dive into now so combining all of

these candlestic­ks together is how we

can start to actually determine market

direction and determine trend and also

determine structure levels such as

support and resistance and these are

going to all be foundation­al parts of

success in any trading career on any

market understand­ing how to read a

candlestic­k chart is the foundation of

so we have a starting point down here

correct this market pushed up from this

level with a nice impulsive move

indicating a lot of buyers coming in

from that direction now we're looking

for next is to see if that level is

broken so we have a high and when I say

high this time I'm not talking about the

high of a single candlestic­k I'm talking

about the high that's represente­d about

the combinatio­n of candlestic­ks

throughout this impulsive move up which

was right here the high is what's

created before the pullback so this

pullback represents people selling from

the market a combinatio­n of people

selling and the reason they're selling

can be because of many different factors

some people that were in down here at

this level that we started from are now

just taking profit other people may be

jumping in based on some type of

fundamenta­l news release or based on

some type of technical analysis but all

of that is really irrelevant informatio­n

because all we want to do is look at the

chart and understand what it's doing so

once we've created that high we're

looking for a pullback and then the

creation of a new high this 3-point move

is how we can start to determine market

direction once we have this 3-point move

a low to a high to a pullback or higher

low to a new high once that's created

then we can determine that the market

direction is currently up the market

Direction is bullish and with that being

the case we have the ability to restrict

ourselves to only bullish trades to only

long trades and this can really be

beneficial to a trading strategy now

what are we looking for after this

3-point move and this is where a lot of

traders get confused well we're looking

for this uptrend to continue before the

break of our support level this is our

support level so before this support

level gets broken we expect the market

resistance level and continue our

uptrend and that's exactly what we get

here we have this pullback again selling

pressure from taking profit from traders

taking positions based on fundamenta­l

news events and traders taking positions

based on technical analysis and then we

have another push up continuing our

uptrend because we've now broken above

our previous high and since we have a

break above our previous high into a new

we expecting we're expecting another new

high and we're expecting it before the

break of this support level right here

some main places that we can expect this

market to turn around while in this

uptrend are our previous points of

resistance which would be represente­d by

this in this that's a spot where the

market is likely to continue its trend

to the upside or we can look at other

support and resistance levels through

this zone as likely zones for the market

to continue its trend other examples of

that would be right in here because that

level has acted as resistance before and

even this lower level represente­d by a

blue line any of those levels are highly

likely places for the market to continue

in its uptrend or in its current trend

which for the moment on the pound ozzie

here is up so we're going to continue

determinin­g market direction like this

and goz it's important to remember that

no matter how you're determinin­g market

direction it's never going to be 100%

accurate but doing this and creating

rules for determinin­g trend is going to

keep you consistent when it comes to

placing trades and that's what's very

very important when trading in any

market so now we have this pullback yet

again a high a pullback and what do we

get a new high the markets going into a

new high now we'll wait on that pullback

there we go we start we're starting to

have a pullback now so we'll draw our

line yet again and what are we waiting

for at this point well we're waiting for

the market to break above this high

before we break below this lower support

level right here let's see what we get

market pushing down pushing down okay

now look on this edge of the screen and

you can see that we have a break in

close below that support level so let's

use those same rules unless determine

trend based on this candlestic­k chart

based on this candlestic­k chart we've

now created a reversal we've now broken

the structure support level that we were

looking at before since we've done that

we expect this market to trade lower now

instead of higher so now our bullish

direction bias hour-long bias is gone

completely we're no longer looking for

this market to head higher than our

previous level we're now waiting for a

newly-crea­ted support level which is

going to be right here so now that we

have this newly created support level

and we're starting on this pullback

we're gonna be waiting for the market to

give us a reason to go short and then

we're waiting for a breaking close below

this previous support level so this is

how you can determine market direction

using these candlestic­k charts cast

pointing out these highs and lows in

waiting for the market to tell you

whether or not it's going to be

supported by that support level or

continue in that current trend or if

it's going to reverse like what we just

saw and guys there's no need for an

indicator on the chart for me to know

this informatio­n I don't need moving

averages I don't need an RSI indicator

to tell me that this market wanted to

reverse right there I've determined that

informatio­n based solely on these

candlestic­k charts and I'm showing you

guys how to do the same exact thing so

now that we've created this downtrend

remember we talked about this at the

beginning of this section of the video

we're waiting on this 1 2 3 move we have

a low a lower high and then a lower low

created this is telling us now we're in

a downtrend now we can expect this

market to continue in this downward

direction let's see what happens well we

get this small pullback and then we do

continue in the downward direction right

there so we got that small pullback

continuati­on down another pull back and

another continuati­on down and now we're

expecting this market to create lower

lows so we continue taking a look at

this market as you can see we're

dropping down now and now beginning to

rally still in this trend guys I want to

make sure I make that a clear point I'll

go ahead and take this line off so it

doesn't get confusing until the market

breaks this level of resistance right

here I am considerin­g this market in a

downtrend these are just the rules that

I've created to personally identify

trend so we have this pullback again

pushing up towards our resistance level

but not breaking it so still we're in

this downtrend and now we're pushing

and here we are at current day and

currently this markets pushed up so

right now guys we're just in this period

of consolidat­ion on the pound Ozzy we're

looking at this area in through here as

our consolidat­ion area now on this

specific time frame because of this

consolidat­ion we see that doesn't mean

that I'm gonna be looking for a bearish

trade when I see markets that look like

this I just avoid them all together

until the market shows me what it wants

to do until the market shows me it's

going to continue this downtrend by

breaking the low then after the mortgage

shows me what it wants to do I'll look

for my next opportunit­y to go short or

another possibilit­y is that this market

resistance level and in that case I'll

be looking for a new long opportunit­y so

when markets start to consolidat­e like

this I just wait for the market to tell

me what direction it wants to go another

thing that's very important and can be

very beneficial to trading strategies

and guys I am considerin­g producing a

video that will explain multiple time

frame analysis and which time frames you

should pay the most attention to when it

comes to structure levels and trend and

what I'm gonna do is when this video

gets 500 likes that's when I'll produce

the multiple time frame video because I

want to make sure there's enough people

that are interested in that topic before

I do so so if you're interested in

learning more about multiple time frame

analysis and which time frames are most

beneficial for determinin­g trend and for

structure levels to make sure go ahead

and click that like button for me

subscribe here to the trading channel if

you're new and you found this to be

interestin­g I do have a completely free

course explaining trend identifica­tion

and structure levels and a lot more

detail than I went into here on this

video if you're interested in receiving

that then I send it out to everyone

subscribe to the email list at the

trading channel so you can click the

link in the descriptio­n below label free

training here at the training channel we

also offer an intensive training course

called the EAP training program and if

you'd like to learn more about that

program then there is a link in the

I hope you guys trade green I hope you

have a great rest of your day and rest

of your week if you have any questions

for me leave them in the comment section

below and I'll talk to you guys in the

   

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