News & Analysis at your fingertips.

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. See our updated Privacy Policy here.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
EUR/USD
Mixed
Oil - US Crude
Bullish
Wall Street
Bullish
Gold
Bearish
GBP/USD
Mixed
USD/JPY
Mixed
More View more
Real Time News
  • USD overextended, support on pullbacks expected.Tough hurdles ahead on EUR/USD recovery. Get your market update from @JMcQueenFX here:https://t.co/rfYEmDOoTE https://t.co/tHAkugGpt5
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Gold are long at 86.42%, while traders in France 40 are at opposite extremes with 71.87%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/yRuEW0ez49
  • Indices Update: As of 18:00, these are your best and worst performers based on the London trading schedule: Wall Street: 1.80% US 500: 1.40% FTSE 100: 0.33% France 40: 0.30% Germany 30: 0.26% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/CehYFXfZ8g
  • Here is the $DXY Dollar Index overlaid with an inverted Nasdaq 100 and the 20-day rolling correlation below it. Is this just a 'risk asset' vs 'safe haven' relationship or are the underlying fundamental considerations adding up to something that looks like it? https://t.co/r8FKUYt9Pk
  • Technical Levels: US #Dollar, Euro, #Sterling, #Loonie, #Gold & #Bitcoin - https://t.co/32By7dwbhu
  • NY Fed accepts $765.1 billion in reverse repo operations $USD $DXY
  • Amazon’s annual Prime Day event runs from June 21 to June 22 this year The retailer has created an event that sees its sales surpass Black Friday and Cyber Monday combined. Get your market update from @PeterHanksFX here:https://t.co/So5fHrQVnD https://t.co/fp2hlgEmMH
  • WTI putting in a strong session, retracing last week's losses and now up 3% on the day #Oil #OOTT $CL_F https://t.co/eD2GC5RXwM
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Gold are long at 86.52%, while traders in France 40 are at opposite extremes with 72.07%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/kphRivbhyv
  • Commodities Update: As of 16:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 2.01% Gold: 1.07% Silver: 0.65% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/xyCL2CYP7W
What a Japanese Candlestick Can Reveal | Steve Nison | Podcast

What a Japanese Candlestick Can Reveal | Steve Nison | Podcast

Ben Lobel, Martin Essex, MSTA,

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.”

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