𝗧𝗥𝗔𝗗𝗜𝗡𝗚 𝗖𝗔𝗡𝗗𝗟𝗘𝗦𝗧𝗜𝗖𝗞 𝗣𝗔𝗧𝗧𝗘𝗥𝗡𝗦 !📊

~𝙰 𝚃𝚑𝚛𝚎𝚊𝚍~🧵

𝙿𝚕𝚎𝚊𝚜𝚎 𝚁𝚎-𝚃𝚠𝚎𝚎𝚝 𝚝𝚑𝚒𝚜 𝚝𝚠𝚎𝚎𝚝 𝚏𝚘𝚛 𝚖𝚘𝚛𝚎 𝚛𝚎𝚊𝚌𝚑 🤞

@ProdigalTrader @SouravSenguptaI @PAlearner @Puretechnicals9 @caniravkaria @MrigankPuri @nison_steve @chartmojo

(1/18) In this thread, l'll try and talk about candlestick patterns, what they are, how they work, and why you don’t need to memorize any particular pattern to gauge the supply and demand of market.

(2/18) It’s said that Japanese candlestick patterns originated from a Japanese rice trader called 𝘔𝘶𝘯𝘦𝘩𝘪𝘴𝘢 𝘏𝘰𝘯𝘮𝘢 during the 1700s. Later, this concept was introduced to the Western world by Steve Nison, in his book, 'Japanese Candlestick Charting Techniques'.

(3/18) Every candlestick pattern has four data points:
𝗢𝗽𝗲𝗻: The opening price.
𝗛𝗶𝗴𝗵: The highest price over a specific time period.
𝗟𝗼𝘄: The lowest price over a specific time period.
𝗖𝗹𝗼𝘀𝗲: The closing price.

Here’s an example:

(4/18) Now a thing to note is that candlestick patterns maybe both bullish or bearish and there are single candlestick patterns, two candlestick patterns and even three candlestick patterns.

𝐂𝐀𝐍𝐃𝐋𝐄𝐒𝐓𝐈𝐂𝐊 𝐂𝐇𝐄𝐀𝐓𝐒𝐇𝐄𝐄𝐓: