![]() Candlestick componentsīody: This represents the price range between the opening and closing price of the underlying asset within a given timeframe Each of these components represents a set of information that allows investors to quickly understand how the market is performing within a certain time period. To increase their chances of securing profits, investors read charts and candlesticks that provide the required information, based on price action and time frame.Ĭandlestick charts are characterized by 2 main components, the body and the wick. ![]() They buy and sell cryptocurrencies based on intuition and rely on inside information or ‘signals’ that may turn out to be pump-and-dump schemes. Many new investors rely on their gut instincts when entering the investment space. ![]() It was adopted and introduced to the Western world by Steve Nison, through his book Japanese Candlestick Charting Technique. ![]() The candlestick chart is believed to have been created by Munehisa Homma, a Japanese rice trader who used candlesticks to represent the prices of rice. A candlestick chart is a type of financial chart that displays the price movement of a given asset within a given time frame. ![]()
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