Trading platforms offer different types of charts like the Line chart, Bar chart, Candlesticks charts etc. Among these, Candlestick charts are one of the most popular graphical charts. They provide a variety of information about the current market prices, and they are relatively easy to read and understand. In addition, Candlesticks form certain patterns which are highly effective.

These patterns and formations represent the psychological character of the market & indicate whether prices will rise, fall, or reverse their direction.

But since forex is a continuous 24-hour market, not every Candlestick pattern is suitable for forex & we will look at specific candlestick patterns for this market.