The human behavior in relation to money is always dominated by fear, greed and hope. Well, the candlestick analysis will help you to understand these changing psychological factors by showing you how buyers and sellers interact with each other.
Candlesticks are basically a visual representation of what is going on in the market. By looking at the candlestick, you can get valuable information about the open, high, low and close of the price , which will give you an idea about the price movement. In this post, we will discover how to recognize the most important candlestick patterns, the psychology behind their formation, and what do they indicate when they form in the market.
Candlestick patterns are best used in combination with support and resistance with support and resistance, trend lines, and other technical tools such as the moving averages, fibonacci levels, or pivot points.
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