Candlesticks chart mostly used in a trading sphere to visualize and analyze the price movements
Candlestick charts use candlestick symbols for the demonstration of multiple bits of price data and are very helpful for detecting and predicting market trends over time. Each symbol represents the compressed trading activity for a single time period (a minute, hour, day, month, and so forth). For instance, the longer the candlestick, the more intense the buying or selling pressure is. At the same time, if the body is short, it means that the price movement is very little in that period of time and it represents consolidation.
Candlestick Charts are great for revealing market psychology through several indicators, for example, shape and color, yet in addition to the numerous recognizable patterns that can be found in Candlestick Charts. Altogether, there are 42 recognized patterns that are divided into complex and simple patterns. These patterns are very helpful for showing price relationships and predicting the possible future movements in the market.