Traders! Here's the ULTIMATE Beginners Guide to Reading a Candlestick Chart

If you're trading short term, you need to use candlestick charts. But you can’t use them if you don’t understand them. Today, Tim Bohen will teach you about candlestick charts — what they can show you and how to read them.
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Don’t think candlestick charts are super complex. Sure, there are some things to learn, but once you understand them and practice using them, they can be useful in your trading.

First, each candle marks one trading day. And if the candle has a really small body, that tells you that the stock opened and closed at almost the exact same price. That's what we call a doji candle. And that also tells you that for that trading day, the stock basically did nothing.

When a red candle opens a few dollars higher than its previous close, that’s called a gap-up. That’s something to focus on for potential trades.

Now, say a stock opens at $9 and then closes at $8.25. The candle is red because the stock’s closing price is lower than its opening price. That's the beauty of candlestick charts ... With a glance you can see a stock’s daily price action and range.

So that’s a bit on the candle bodies, but there are also the candle wicks. Those are the small lines on the candle that can show you the stock’s high and low of that trading day. With a quick look, you can see if the stock gapped-up, ran, pulled back, dropped hard, or bounced.

Here’s another thing you can learn from candlestick charts: volume. On the volume candlesticks, you won’t see wicks. These are strictly a chart annotation, a bar chart in essence. They just show you the total volume. And that’s an important indicator for short-term traders.

It’s amazing the amount of information you get just from looking at a candlestick chart. You can see if the stock closed higher than it opened, the bottom and upper ranges, the volume, and more. Get to know these charts — they can be so useful in trading.

And if you’re still intimidated, watch this video until it’s more clear. Then check out the candlesticks on your favorite stocks and practice, practice, practice!


#StocksToTrade #CandlestickCharts #BeginnersGuide
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*Tim Bohen teaches skills others have used to make money. Most who receive free or paid content will make little or no money because they will not apply the skills being taught. Any results displayed may be exceptional. We do not guarantee any outcome regarding your earnings or income as the factors that impact such results are numerous and uncontrollable.

You can lose money trading stocks. Do not invest money you cannot afford to lose. You understand and agree you will consider the important risk factors in deciding to purchase any of our products or services.

Видео Traders! Here's the ULTIMATE Beginners Guide to Reading a Candlestick Chart канала StocksToTrade