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Technical Indicators: Japanese Candlestick
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Construction

The principle of the Japanese candlestick graph is to represent each day by a line and a rectangle. The line goes for the highest price to the lower price of the day. The rectangle goes from the opening price to the closing price. The color of the rectangle depends of the level of the opening and closing price. If the closing price is higher than the opening, the rectangle is white, if the closing is lower than the opening, the rectangle is black.

All the Figures and their 'Nick Name'

Figure Nick Name Interpretation
Marubozu of yin Highly bearish
Marubozu of yang Highly bullish
Closing yin bozu Bearish
Opening yin bozu Bearish
Opening yang bozu Bullish
Closing yang bozu Bullish
Toy (yin) Uncertain
Toy (yang) Uncertain
Dragongly Reversal point
Dragongly Reversal point
Pagoda Suggest a reversal
Long-legged identical opening & closing Suggest a reversal
Umbrella yin Sale signal when it appears on top
Umbrella yang Purchase signal when it appears at the bottom
Identical four prices Reversal point

The above figures are based on one day. We have also some figures based on two days prices.
See Japanese candlestick NEXT.

 

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