Are candlestick patterns necessary for price action trading?

Candlestick patterns are essential tools for every price action trader. Here are 10 candlestick patterns that you must know, complete with trading examples. Are you using candlestick charts as your default chart type for price action analysis? Most likely, the answer is yes.

What are candlestick patterns?

Candlestick patterns are one of the oldest forms of technical and price action trading analysis. Candlesticks are used to predict and give descriptions of price movements of a security, derivative, or currency pair. Candlestick charting consists of bars and lines with a body, representing information showing the price open, close, high, and low.

What are candlestick charts used for?

Candlestick charts are most often used in the technical analysis of equity and currency price patterns, and in this post, we go through exactly how you can use them in your own trading. NOTE: You can get your free candlestick patterns PDF guide below. What are Candlestick Charts? What is the Difference Between Candlestick Charts and Bars?