This week has been incredibly volatile with some crazy action across the board from blue chip to small-cap stocks. In this Thursday analysis, we take a look to see how some of the weekly candles are set up into the second half of the week with the markets looking strong overall into the month of November. However, with such a strong move up over the last few days, things can always reverse quickly especially with an event like elections right around the corner next week.
Whether you are new to trading or not, you have probably seen those stock photos of someone sitting in front of a screen full of charts that accompany every article about trading. But have you ever looked at those charts and wondered what it all means? There are many forms of charts, but probably the most commonly used are candlestick charts generally consisting of red and green rectangles that look similar to a box and whisker plot. These are called Japanese Candlesticks, and we’re going to talk a whole lot about them in this article.
For anyone looking to understand trading, having a strong background knowledge of candles and what they depict can give you a leg up in the challenging game of stock trading. This article covers everything you need to know about candlestick patterns from what they are, to some of the most common patterns and what they mean. Continue reading Trading Candlestick Patterns 101: Introduction and Common Candlesticks & Patterns