Reading Candlestick Charts Explained
Much of the credit for candle stick charting development goes to a fellow named Homma, a legendary rice trader from Sakata. The first person to introduce Japanese candlesticks to the Western world was Steve Nison. Steve Nison notes that candle stick development was likely a result from a collective effort developed over many years of trading. The benefits of Candlestick analysis are many:
Candlestick formations and charts use the same open, high, low and close price data as the traditional Western bar chart.
As seen in the chart comparisons above, prices seem to jump off the page on the candle-stick chart. It pushes the flat, two dimensional bar chart into almost a three-dimensional aspect. Lets continue on with your Candlestick course.
______________________________________________________________ Recommended Candle-stick charting Tools and Resources
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