Candlesticks, classic candle patterns, volume, support and resistance, trendlines, multiple timeframes, chart patterns, Fibonacci, market structure and price gaps.
For: learners looking at a candlestick chart for the first time
This course uses ideas from the courses below (optional; you can start right away).
One candlestick records four prices for a period of time: the open, high, low and close.
Hammers, shooting stars, engulfing patterns, dojis, morning stars: the mood of buyers and sellers revealed by one candle or a few.
Price tells you what happened; volume tells you how many people took part.
When the price repeatedly stops falling or stalls at the same place, those levels are support and resistance.
Connect a series of rising lows and you've drawn an uptrend line; add a parallel line and you have a price channel.
In the same market, the daily chart can be in an uptrend while the 5-minute chart is falling. Learn to look at the bigger timeframe first, then the smaller one.
Head and shoulders, double bottoms, triangles, flags… these recurring shapes record shifts in the balance between buyers and sellers.
After a rally, prices often pull back and find support near 38.2%, 50% or 61.8%.
Uptrend = rising highs and rising lows; downtrend is the opposite; highs and lows that don't line up mean a range.
The open jumps straight past a range of prices, leaving a blank space on the chart. It might fill quickly, or it might be the start of a new trend.