If you're trading short term, you need to use candlestick charts. But you can’t use them if you don’t understand them. Today, Tim Bohen will teach you about candlestick charts — what they can show you and how to read them.
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Don’t think candlestick charts are super complex. Sure, there are some things to learn, but once you understand them and practice using them, they can be useful in your trading.
First, each candle marks one trading day. And if the candle has a really small body, that tells you that the stock opened and closed at almost the exact same price. That's what we call a doji candle. And that also tells you that for that trading day, the stock basically did nothing.
When a red candle opens a few dollars higher than its previous close, that’s called a gap-up. That’s something to focus on for potential trades.
Now, say a stock opens at $9 and then closes at $8.25. The candle is red because the stock’s closing price is lower than its opening price. That's the beauty of candlestick charts ... With a glance you can see a stock’s daily price action and range.
So that’s a bit on the candle bodies, but there are also the candle wicks. Those are the small lines on the candle that can show you the stock’s high and low of that trading day. With a quick look, you can see if the stock gapped-up, ran, pulled back, dropped hard, or bounced.
Here’s another thing you can learn from candlestick charts: volume. On the volume candlesticks, you won’t see wicks. These are strictly a chart annotation, a bar chart in essence. They just show you the total volume. And that’s an important indicator for short-term traders.
It’s amazing the amount of information you get just from looking at a candlestick chart. You can see if the stock closed higher than it opened, the bottom and upper ranges, the volume, and more. Get to know these charts — they can be so useful in trading.
And if you’re still intimidated, watch this video until it’s more clear. Then check out the candlesticks on your favorite stocks and practice, practice, practice!
#StocksToTrade #CandlestickCharts #BeginnersGuide
*Tim Bohen teaches skills others have used to make money. Most who receive free or paid content will make little or no money because they will not apply the skills being taught. Any results displayed may be exceptional. We do not guarantee any outcome regarding your earnings or income as the factors that impact such results are numerous and uncontrollable.
You can lose money trading stocks. Do not invest money you cannot afford to lose. You understand and agree you will consider the important risk factors in deciding to purchase any of our products or services.
🔴 Subscribe for more free Stock Trading tips: YouTube.com/StocksToTrade
Share this video with a fellow Trader: https://youtu.be/nvw8p6jaBO4
✅ Links we mention and recommend:
Try StocksToTrade for $7: https://stockstotrade.com/14daytrial/
Get our FREE weekly watchlist here: https://stockstotrade.com/watchlist
Check out the SteadyTrade podcast: https://steadytrade.com
✅ Recommended video: https://youtu.be/6MkRxIXhj_c
✅ Recommended playlists:
Stock Trading 101: A Day Trader's Guide: https://www.youtube.com/watch?v=G_v3GMkKCjk&list=PLWWz2BSabm3bG64ohfJ-CnnVTjLCWwvei
Advanced Stock Trading Tips: https://www.youtube.com/watch?v=OXLs_-PgMUk&list=PLWWz2BSabm3YCZdk7ocrBXGJaLVXXFUYb
StocksToTrade Software Tips and Tricks: https://www.youtube.com/watch?v=jiTi-chHNyo&list=PLWWz2BSabm3ay_lvQC9JN_1niB78bI7ga
Weekly Trading Recap Videos: https://www.youtube.com/watch?v=_n0XaDt1XFY&list=PLWWz2BSabm3b3-4DcEx98TzNPLAKcq6ES
✅ Follow StocksToTrade on social media:
Instagram: https://www.instagram.com/stockstotrade/
Facebook: https://www.facebook.com/StocksToTrade/
Twitter: https://twitter.com/StocksToTrade
Don’t think candlestick charts are super complex. Sure, there are some things to learn, but once you understand them and practice using them, they can be useful in your trading.
First, each candle marks one trading day. And if the candle has a really small body, that tells you that the stock opened and closed at almost the exact same price. That's what we call a doji candle. And that also tells you that for that trading day, the stock basically did nothing.
When a red candle opens a few dollars higher than its previous close, that’s called a gap-up. That’s something to focus on for potential trades.
Now, say a stock opens at $9 and then closes at $8.25. The candle is red because the stock’s closing price is lower than its opening price. That's the beauty of candlestick charts ... With a glance you can see a stock’s daily price action and range.
So that’s a bit on the candle bodies, but there are also the candle wicks. Those are the small lines on the candle that can show you the stock’s high and low of that trading day. With a quick look, you can see if the stock gapped-up, ran, pulled back, dropped hard, or bounced.
Here’s another thing you can learn from candlestick charts: volume. On the volume candlesticks, you won’t see wicks. These are strictly a chart annotation, a bar chart in essence. They just show you the total volume. And that’s an important indicator for short-term traders.
It’s amazing the amount of information you get just from looking at a candlestick chart. You can see if the stock closed higher than it opened, the bottom and upper ranges, the volume, and more. Get to know these charts — they can be so useful in trading.
And if you’re still intimidated, watch this video until it’s more clear. Then check out the candlesticks on your favorite stocks and practice, practice, practice!
#StocksToTrade #CandlestickCharts #BeginnersGuide
*Tim Bohen teaches skills others have used to make money. Most who receive free or paid content will make little or no money because they will not apply the skills being taught. Any results displayed may be exceptional. We do not guarantee any outcome regarding your earnings or income as the factors that impact such results are numerous and uncontrollable.
You can lose money trading stocks. Do not invest money you cannot afford to lose. You understand and agree you will consider the important risk factors in deciding to purchase any of our products or services.
Hi Tim, how do you know after the large red body candlestick that the next day it would be a green body ,a stock increase.?
This is one of the most useful info videos on candlestick charts online!
Hi Tim. I do use candlesticks ..thanks . What patterns do you think I need to know now, for day trading in this market..thanks 👍
I'm going to be in this Millionaire Challenge course in July 2022!
So Useful! Can't Believe It Doesn't Have More Veiws..
I'm late to this video. I'm just learning candle charts. I've been using regular line charts with success but I believe candles will improve that.
Thanks Tim for the amazing video. I'm a new STT team member and I love everything that you guys do.
Hi I'm very new in this trading and i haven't done any tradings yet as i started to learn this 1 month ago. My question is: do i only have to buy on the green candlestick and sell on the red? Or I can do buying and selling on the both candles? Thanks
Tim I have say Sir, I love the way you break things down. You are a great instructor and definitely a master at what you do. I will be joining SST soon.
What platform do u use to follow the stocks.
Great video. Best simple easy to understand video i have seen so far.
Cheers Tim
I’m learning. Watching all your videos. I will probably subscribe to your scanner program as well. My goal is to make enough money to quit my day job. Don’t know if that’s possible. But, would love to work from home! I love learning about all this. I’m in a few bad trades currently. Waiting for them to spike so I can get out and try another stock.
Thank you, Tim. Every night I prep my watchlist for my main Dip & Rips. I watch your morning live videos and add them to my watchlist if they aren't already there. After trading (or not trading, if the pattern doesn't develop, or if it doesn't go the way I'd hoped), I come back to YouTube and watch/rewatch a couple of hours of videos by you and by Sykes on the basics. I'm getting ready to start incorporating your Afternoon VWAP hold H.O.D. I've been trading for a little over 2 months, now. These videos are HUGE for me. Thank you from the bottom of my heart for them. It makes it possible for me to trade and learn on my off days (nurse) and during the time my girls are doing their homeschool lessons and when I'm not helping my hubs build our house. I can't thank you and Tim Sykes enough.
When i say this was very well explained.
Professional guidance brings about remunerative results. Great job Christopher, you exceeded my expectations.
I had this topic on my study list and now it's crystal clear. Thank you.
Hi my name is Paul Edwards from Delaware I am still studying ready to be a millionaire student
so clear and helpful Thanks from a total newbie currently in Sykes Millionaire Master Program
Very helpful! Thank you 👍🏻
Thanks Tim, can you recommend a detailed step by step “how to get started guide for beginners “ that covers hardware, the right account to use, courses etc. thanks again.
Learning now, in the challenge for going on two weeks, now! Not actively trading, yet. Building my knowledge account, first. Thank you for this video!
I am new, just starting to study. My boyfriend has been studying for 3 months and sent me this video along with a few others. I can’t wait to learn, partly so he can talk to me about it without confusing me 😄 but also I am very interested! Thank you!
I'm starting to day trade I do not use candle sticks it I'm SLOWLY understanding the info thanks very helpful
Thank you for the video
Taking my first year or two to learn. No Fomo here buddy!
I now understand candlestick charts. Soooo easy!!!!
Do you use candlestick charts? Do you think they're helpful?