Understanding candlesticks in forex

Various factors affect the movement of currency rates and forex market analysis. More often than not, one such factor is the use of candlesticks in technical analysis. Candlestick charts (also known as Japanese candlesticks) consist of a rectangle of a body and an upper and lower shadow. The rectangle’s colour represents whether or not the closing price for that particular time was higher or lower than the opening price. It gives traders important information about what happened during the trading session within the set time frame. The length of each part of the rectangle – body, upper shadow, and Continue Reading →