Forex Candlesticks really facinate me a lot. The more I learn about them, the more I feel like learning more. I mean so many patterns and each speak a lot about forex market conditions.

For example, let us talk about Candlestick doji which is a very popular and significant type of candlestick pattern.

Doji Candlestick pattern

 As you can see in the chart, Doji signifies a point where both Buyers and sellers match for each other. Its more like a tug of war where no side is winning currently.

Candlestick Doji in clear terms is a candle where the opening price is the same or almost the same as the closing price.

So naturally when a candlestick is formed, it shows that trader needs to be watchful of the trading consitions.

Doji candlestick also shows that the traders who have their forex trades open need to do some housekeeping work such as adjusting stop loss or may be even close the trade.

See, all this message can be derived from one single forex candlestick Doji pattern

Forex Candlesticks are amazing. They are one of those indicators that can help understand accurately what happenned or what is going to happen in the forex market.

Since the introduction of japanese candlesticks to western world by steve nison, the candlesticks have gained a lot of following in trading community.

In simple terms, a forex candlestick indicates the price movement during a particular period. So on a daily chart for example, one candle will indicate the price information of one day.

Here is what a candle tells -

1. Opening Price in the duration

2. Closing price

3. Lowest price and

4. Highest price.

The difference between the open and close is the body of the candle. While the ends are known as wick.