We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

Free Trading Guides
EUR/USD
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
GBP/USD
Mixed
USD/JPY
Mixed
Gold
Bullish
Oil - US Crude
Mixed
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Bitcoin
Mixed
More View more
Real Time News
  • The $AUD has risen in anticipation of a deal Washington and Beijing. But the Australia-China trade relationship has not suffered much and may even have been helped by China’s spat with the US. Get your market update from @DavidCottleFX here:https://t.co/An7h5X0Zcz https://t.co/Rn7mLbS1EF
  • How can traders avoid #FOMO in trading? Start by implementing a well-heeled plan taking only four hours per week. Get your insight from @JStanleyFX here: https://t.co/vwUShQPc27 #tradingstyle https://t.co/0Wn4xBL0AY
  • Do you know which type of stock is the right investment for you? Stock types help investors decide on specific #stocks to trade or assist with valuation methods either fundamentally or technically. Learn more about stock types here: https://t.co/yO3JalkqUU https://t.co/RoNdExHAdt
  • The status of the US #dollar as the safe-haven asset of choice remains untouched and any weakness in the greenback is likely to be short-lived. Get your $USD market update from @nickcawley1 here: https://t.co/LO2u38jpUT https://t.co/ctgCJSOeTH
  • #FTSE 100 testing key support as the index lacks a directional bias. #DAX reverses off channel top. Get your indices technical analysis from @JMcQueenFX here: https://t.co/IHF2dgMfg9 https://t.co/2fMTFlOeTR
  • With knowledge of price action, traders can perform a wide range of technical analysis functions without the necessity of any indicators, including management of risk. Build on you knowledge of price action here: https://t.co/9hQA0bsYtt https://t.co/5KQowxuiBf
  • The term ‘Ichimoku,’ literally means ‘one glance,’ in Japanese. Ichimoku, or the one glance indicator, is considered to be a self-contained system in the fact that no additional indicators are necessary. Learn more about the 'one glance' indicator here: https://t.co/T7o7W9C0Ro https://t.co/7bhBfWvEkR
  • Support and resistance are the cornerstone of technical analysis, making it the foundation that you build your knowledge on. Build a stronger foundation here: https://t.co/yXLaRpl90I https://t.co/85JHunf2Xf
  • Many traders ask how a trading method that is 77 years old is applicable today. Learn about the Gartley pattern and see how you can incorporate it into your trading style here: https://t.co/2yPmGH0XvT https://t.co/rtqUKZSdn1
  • Recessions can devastate the economy and disrupt the fortunes of individuals, businesses, and investors. But economic decline in the business cycle is inevitable, and your trading can be defined by how you respond to crisis. learn how to prepare here: https://t.co/e4CnobJCss https://t.co/ywv7RVP9qY
What a Japanese Candlestick Can Reveal | Steve Nison | Podcast

What a Japanese Candlestick Can Reveal | Steve Nison | Podcast

Share:

Talking points on this podcast:

  • Japanese candlesticks: What are they how can they boost your trading?
  • Which candles are the most important to look out for, and what are the patterns?
  • Do candlesticks reflect traders’ emotions?

This time on Trading Global Markets Decoded, our host Martin Essex is joined by candlestick charting guru Steve Nison – the man who introduced the Japanese charting method to Western traders. Don’t miss this discussion on Japanese candlesticks and how to apply them for more consistent trading.

You can listen to this podcast by clicking on the YouTube link above or by using one of the alternative platforms listed below.

What is a Japanese candlestick?

A Japanese candlestick is a tool traders use in technical analysis for charting and analyzing assets, to learn about price action and open, close, high and low levels. Steve discusses the origin of the term in 17th century Japan, when they were used to track rice futures. “The Japanese placed a lot of emphasis on the relationship between the open and close,” Steve explains. “So if a close is a lot higher than an open they would consider it a stronger [session] and if the close is lower than the open it was considered a weak session.”

Japanese candlestick on a chart

Why have candlesticks replaced bar charts over time? “The Japanese used to use bar charts, but the candlesticks showed the force of the move, and that’s critical to get early reversals,” Steve says.

Advantages of Japanese candlesticks

When it comes to the advantages of Japanese candlesticks, the tools may help give a better idea of traders’ emotions, as well as better present the data to the user. “The candlestick chart gives the same information as a bar chart, but when you have the candlesticks its visually easier to interpret that,” he says.

Also, the candlestick allows for the use of every form of western technical indicators, such as Moving Averages, Oscillators, and trend lines. “Of the dozens of books I’ve had translated from Japanese to English, all the Japanese literature had sections on western technical analysis,” Steve says.

“They would describe to their readers how an [indicator] works and they would add candlesticks to it. That [marrying of candlesticks and technical analysis] is what we strongly recommend in our education.”

Forex for Beginners
Forex for Beginners
Recommended by Ben Lobel
Brush up on critical forex concepts with our beginner guide
Get My Guide

For more ways of listening to the DailyFX podcast, click on one of the additional channels below.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES

News & Analysis at your fingertips.