Japanese Candlestick Cheat SheetThe simplest ways to use Japanese candlesticks & Fibonacci is with support and resistance levels.
... So lets code them together to get a smoother price action picture.
Heikin Ashi + Fibonacci = SIMPLE & CLEAR PRICE ACTION!
Japanese candlesticks can be used for any time frame, whether it be one day, one hour, 30-minutes – whatever you want!
They are used to describe the price action during the given time frame.
· If the close is above the open, then a hollow candlestick (usually displayed as white) is drawn.
· If the close is below the open, then a filled candlestick (usually displayed as black) is drawn.
· The hollow or filled section of the candlestick is called the “real body” or body.
· The thin lines poking above and below the body display the high/low range and are called shadows.
· The top of the upper shadow is the “high”.
· The bottom of the lower shadow is the “low”.
