Comparing Candlestick Charts with Alternative Charting Methods

Knowing a bit about the options that exist outside of candlestick charts serves as a point of reference and makes clear the benefits of using candlestick charts when analyzing price data.

Although they're not as versatile and useful as candlesticks, each of these alternative charts has its benefits:

1 Line charts are simple and straightforward.

1 Bar charts are important to understand because they're still relatively prevalent.

1 Point and figure charts are great for revealing support and resistance levels.

I'm confident that you'll be a believer in candlesticks when it's all said and done, but understanding the alternatives is certainly worth your time.

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