Important Candlestick Types - Part 1

Japanese candlesticks are a way of visually representing price movements on a chart that is widely agreed to be more descriptive than traditional Western bar charts, or indicators which are merely derived from price. A Japanese candlestick chart allows price information to be more easily assimilated by the human eye, so the lesson begins with an explanation as to how each candle is drawn.

The open, high, low, and close of any candle / bar hold significance, but this lesson focuses on how to identify three of five most important and predictive types of candlestick patterns: the pin bar (also known as the bullish reversal hammer or just reversal hammer), the inside bar, and the outside bar.

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