Interesting lessons about forex japanese candlestick chart patterns

The technical analysis methods used by Japanese were developed over plenty of years. Although it had been more than 30 years that the Japanese analysts and traders employed candlestick charting for the financial analysis, the western world was unaware of it.
The candlestick method gives a trader a chance to find out the existing or current market condition by analyzing the futures and stocks market too apart from currency market.
Below is excellent video lesson about candlestick charts – Trading With Candlestick Formations video made by dailyfx:

Analysis techniques founded on the Japanese candlesticks are most effective in selecting those precise moments when trade is most productive. But in case a trader has used the candlesticks analysis technique for a considerably long period, then the history of the method might have affected the traders’ style of trade over time.
Although, most Forex market experts recommend using Japanese candlesticks in conjunction with other indicators so that the actual market situation is depicted vividly ensuring maximum outcome, still using the candlesticks alone would also be enough for traders as the method is autonomous and doesn’t require any extra methods.
candlestick chart
Japanese candlesticks are similar to bar charts. They are employed on daily charts as the model was basically conceived to analyze day trades. The candlesticks model correlates the closing and opening prices of a current trading day, the previous day’s closing price and the opening price of the next day.
The behavior of an existing market as well as its sentiment can be accurately determined using the Japanese candlesticks either with or without other indicators of technical analysis.
Candlestick charts books :
Further details regarding the Japanese candlesticks can be seen from the book “Candlesticks for support and resistance”, written by John H. Forman, in which all traders will undergo refinements in their trade style and learn of secrets associated to this analysis type. Over 50 various candlesticks are covered in the book. Furthermore you’ll learn which technical instrument can be employed in conjunction with the candlesticks to give most efficient results facilitating use of the candlesticks.
The book explains all possible queries regarding candlesticks. It will teach you new horizons of technical analysis and help you see how it brings profit and success in the Forex geographically. No matter if you trade in share market, futures, currencies, goods or bonds, studying this book by John H. Forman will help you achieve success in the market.
“A complete guide to technical trading tactics” is another similar book authored by John L. Pearson which compiles research based on the various aspects of technical analysis conducted through the Japanese candlesticks charts.