Candle Charts : Lightening the Path!

Each time period produces a price bar called a candle. Each candle has a different characteristic that represents the difference or distance between the high, low, open, and close. Candle charting techniques can be used on data from whatever time period you choose—minutes, hours, days, weeks, or months. It lends itself to pattern recognition, trend lines, support and resistance, channel lines, and all the other typical technical analysis features. Candle analysis usually is not limited to a single candle but is based on several bars forming a pattern and on the location of that candle or pattern within overall market action.
The key feature of the candle is the body, the difference between the open and close prices. Using the conventional way of displaying candles, a dark body indicates that the closing price was below the opening price, and a white or hollow body indicates that the closing price was higher than the opening price.

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