Basics of Working with Candlestick Chart Patterns

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Working with candlesticks means that there is no time lag in the analysis compared with technical analysis tools (e.g., moving averages).

Candlesticks show everyday investor behavior expressed through the relationship of open, high, low, and close of the day (or week, month, etc.).

The following candlestick chart patterns occur frequently and combine well with Fibonacci trading tools. Our goal is to be practice-oriented—to show what works, is easy to understand, and is useful for all traders. The few candlestick patterns we show here represent probably 80 percent of all valid patterns in real-time everyday trading and can be easily integrated with other strategies.

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