Japanese Commodities Trading Candlesticks Patterns Described

Advanced Candles Patterns Discussed

Brief History

Candlesticks were developed in the 18th century by the legendary rice trader called Homma Munehisa to give overview of the opening, high, low and closing market commodities price over a given period of time.

They were used by the legendary rice trader to predict future market commodity trading prices. After he dominated the rice market, Munehisa after that eventually moved to Tokyo Exchange where he gained huge fortunes using this analysis method. He is said to have made over one hundred consecutive winning trades.

Types of Commodity charts

There are Three types of charts used in Commodities: Line, bar and candlesticks.

Line - plots a continuous line connecting closing commodities prices of a commodity.

Bars- displayed as sequence of OHCL bars. OHCL represents OPEN HIGH LOW & CLOSE. Opening commodities price is displayed as a horizontal dash on the left & closing commodities price as a horizontal dash on right.

The main disadvantage of a bars is that it is not visually appealing, therefore most traders don't use them.

Candlesticks Patterns - Best Commodity Candlesticks Tutorial - these use the same commodities price data as bar commodity charts (open, high, low, and close). However, they in a much more visually identifiable way which resembles a candle with wicks on both ends.

How to Interpret Best Commodity Candles Guide

Rectangle section is called the body.

The high and low are described as shadows & plotted as poking lines.

The color is either blue or red

• (Blue or Green Color) - Commodities Prices moved up
• (Red Color) - Commodities Prices moved down

Most commodities trading platforms like the MT4, use colors to mark the direction. Colors used are blue or green: when commodities price moves up, red: when commodities price moves down.

Candle Sticks Vs. Bar Commodity Trading Chart

When candles are used it's very easy to see if the commodities price moved up or down as opposed to when bars are used.

The Best Commodity Trading Candlesticks Book also have very many formations that are used to trade the Commodities market. Best Commodity Candlesticks Tutorial - candlesticks patterns have different technical analysis explanation and the most common Best Commodity Trading Candlesticks Tutorial are:

The above Best Commodity Trading Candlesticks Tutorial and Patterns is what makes the Japanese candles patterns popular among commodity technical traders & it is why this type of commodity analysis are the most widely used when it comes to analyzing the commodities market. The analysis for these Japanese candle sticks pattern formations in commodities trading is the same as that one used in stock trading - Best Commodity Trading Candlesticks Book.

Drawing japanese Candlesticks Commodities Charts in MetaTrader 4 Software

To draw Candlestick Commodities Trading Charts on the MT4, select MT4 charts drawing tools within the "MetaTrader 4 Tool bar" - shown below.

To view this tool-bar on MT4 navigate to 'View' Next to file at the tops left corner of the MT4 Platform, Click 'View', Then Click 'Toolbars', Then check 'Charts' Button Key. Above Charts toolbar will appear.

Once the above toolbar, appears you can then select the type you want to convert to, If you want to view using the bar format, click the bar commodity chart tool button as shown above, for line format click the line commodity chart tool button, for Japanese candlesticks format click the "candlesticks commodity chart tool button".

All Candles Patterns Explained. Commodity Candlestick Patterns Explained - Advanced Candles Patterns Explained. Bullish Commodities Candles Patterns & Bearish Commodities Candle-sticks Patterns & Candlestick Continuation Patterns Tutorial - How to Read Candlestick Commodities Trading Chart for Day Trading