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Hi, brand new and am trying to learn Candlestick patterns. I've seen Red and Black and gray all on

Mytedebear43Mytedebear43 ✭
in Using Technical Analysis
the same chart, I've seen green, red, open and filled in black, etc. Where is the best source to learn what chart identifies the differences?
Thank you

Best Answer

Answers

  • markdmarkd mod
    edited September 2015
    Chart school on SC has a very good introduction:

    stockcharts.com/school/doku.php?id=chart_school:chart_analysis:introduction_to_candlesticks

    For books, check out the bookstore on SC or Amazon. Probably the best known authors are Steve Nison, Greg Morris (SC contributor) and Martin Pring (also SC contributor).

    But, I wouldn't go crazy on memorizing the hundreds of patterns. Just concentrate on what represents strong or weak buying pressure and strong or weak selling pressure. And pay attention to the volume that accompanies each candle configuration.

    Also check out Candlevolume and/or Arms Candlevolume charts. Very helpful in spotting quickly where the action is/has been.
  • Mytedebear43Mytedebear43 ✭
    Big Thanks to Cush and Markd for the help on Candlesticks: it is very helpful, found a lot with google, but these links on StockCharts are great also, Have a great day.
    Go Pirates!!!
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