Post of the Day: Basic Candlestick Interpretation (Daily FX)
Student’s Question:
I have read a bit about candlesticks and what they mean but could you go over what the bodies and the wicks signify? Thanks.
Power Course Instructor’s Response:
Take a look at the diagram below and that will shed quite a bit of light on what you are asking.
Keep in mind that each candle represents the timeframe of the chart that you are using. So, if you are looking at a 4 hour chart, each candle on that chart represents how that pair traded over the 4 hour period covered by that candle…the high, low, open and close of price. If you are looking at a Daily chart, each candle represents one 24 hour period running from 5 PM Eastern (New York) time on one day to 5 PM Eastern time the next day. On a 1 hour chart each candle represents 1 hour in the trading history of the pair and so forth through the various chart time frames.
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Post of the Day: Basic Candlestick Interpretation (Daily FX)
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