Candlestick patterns play a key role in quantitative trading strategies owing to the simple pattern formation and ease of reading the chart .
For using candlestick patterns, you only need to have a basic understanding of how the candlesticks are formed. Also having some idea about the various ways in which these candlesticks can be interpreted would be useful.
However, if you are new to candlesticks trading, this book will help you gain a complete understanding of candlestick
Market analysts, participants, and traders all make use of the technical indicator known as a candlestick. Utilizing this device, merchants foresee future value developments of a resource. Analysts concentrate on the asset's past and present performance in terms of direction and size.
A shooting star, a morning star, an evening star, a bearish engulfing, a bullish engulfing, a doji, a bearish harami, a bullish harami, inside bars, piercing patterns, and so on are all examples of candlestick patterns. The method was first utilized by a Japanese businessman to assess the potential price of rice.