Candles with a single wick never lie (Understanding Candlesticks-III)

A Candlestick may have 0 or 1 or 2 wicks.

The candle with just 1 wick never lies. The one with 0 or 2 wicks needs help to reveal the truth.

Hammer (white candle with only lower wick) signals a bullish pattern after small pullback. A hammer resembles 'higher low' formation.

Shooting star (white candle with only upper wick) signals a bullish pressure. A shooting star also resembles 'higher low' formation.

Hanging man (Dark candle with only lower wick) signals a bearish pressure. A Hanging man resembles 'lower high' formation.

Inverted hammer (Dark candle with only upper wick) sugnals a bearish pressure after small pullup. An inverted hammer also resembles a 'lower high' formation.

Also, a double wick candle (like Spinning Tops, Longlegged Doji etc.) can indicate any of the bearish or bullish movement depending upon whether the closing price was approached from up or from down.

You can check this from the price graph. If the closing price was touched from below, it can be a bearish signal. If the closing price was touched from above, it can be a bullish signal.

Dragonfly and Gravestone Doji indicate trend reversals.

Also, A Morubozu (a candlestick with no wick) can indicate one of the following 4 situations:-

1)Kick starting a new trend

2)Strong resumption of the trend after consolidation

3)Sudden momentum gain in the trend

4)Overdoing at extremes

Check out to understand the next event!

You can take 5 minute interval for Day Trading and 1-day interval for Swing Trading.

A 5-minute candle can "throw light" atleast for the next 2 minutes!

A 1-day candle can "throw light" alteast for the next 1-3 hours!

A 1-week candle can "throw light" atleast for the next 1-3 days!

Trade confidently with candles. But keep your eyes open for the next candle.

A 1-week candle can make the day comfortable.

A 1-day candle can make the hour comfortable.

A 1-hour candle can make the minutes comfortable.

You can get candle charts on many sites including google finance site where near live feeds are there.

Also, even if you don't get a candle chart, you can draw one yourself. It is the only indicator which is so easy to make.

I myself make candle chart for last 5-days to anticipate the entire next trading day and 1-day candle to anticipate the first 1-2 hours of the next trading day. I don't day trade. But I do BTST with Candlestick estimation and it works!!!