Candlestick charts are the number one way to read the price history of any financial asset. I like them because they allow me to easily visualise all the price history and also the most recent price action.
This handy Candestick Cheat Sheet explains the candlestick basics and the most common candlestick patterns.
Source - Open full screen
A bullish candlestick pattern means that you should expect the market to go up and a bearish candlestick pattern means that you should expect the market to go down.
Let's have a look at the current Steem daily chart to see if we can find some of these patterns. The charts below are from Tradingview.com.
Steem Daily Chart
Steem 4 Hour Chart
Let's zoom in to a 4 hour chart to have a closer look at the current price action.
I hope this was useful. Please drop a comment below if you have any questions.
It would be helpful if you could include, or do a separate article that covers what these patterns mean. The basics ones are obvious but how should we interpret these various patterns in terms of influencing our trade decisions?