On Sunday, football fans across the nation will tune their TV sets to the live broadcast of the NFC Championship game. The contest between the New York Giants and the San Francisco 49ers will be held at the iconic Candlestick Park, a challenging venue notorious for swirling winds, load crowd noise—and even the occasional power outage. Watching the game at Candlestick Park promises to be a treat for gridiron enthusiasts, but it also should be looked upon by traders as a teachable moment. You see, when it comes to trading, there’s another kind of “candlestick,” and this one can be watched everyday. In fact, these candlesticks can actually help you portfolio win championship profits.
I’m referring here to candlestick charts. What are candlesticks? Well, they are a tool of technical analysis that you can use to help sort out the psychology influencing the price action of stocks, futures and FOREX markets. What do candlesticks offer that typical high-low bar charts do not? As far as the actual data displayed is concerned, nothing. Just like bar charts, candlestick charts display the open, high, low and close for a given security (See our recent article, 7 candlestick patterns every trader should know).
However, when it comes to visual recognition of data, and the ability to see data relationships and investor sentiment over time, candlesticks are far superior to traditional bar charts.
Turn Simple “Power” Patterns You Can Easily Master to Profit in Any Market
In this special Strategy Video you will learn Two Simple Candlestick Patterns you can master quickly and easily to turn your trading around, especially if you ever:
- Watched a winning trade turn into a losing trade.
- Jumped into a trade, only to see it turn against you.
- Sold out of a trade, only to watch it FINALLY go up!