While candlestick charting originated in Japan centuries ago (used by rice traders to track price movements), Western traders historically relied on "bar charts." Bedford argues that candlesticks offer a superior visual representation of price action because they highlight the relationship between the opening and closing prices—the "body" of the candle—making the shift in momentum immediately visible.
Happy trading, and remember: The secret isn't the candle; it's the trader reading it. The Secret of Candlestick Charting Louise Bedford.pdf
Bedford's book also covers more complex patterns, including: While candlestick charting originated in Japan centuries ago
"The Secret of Candlestick Charting" by Louise Bedford is a popular book that focuses on teaching traders how to use candlestick charting to improve their trading decisions. The book provides an in-depth guide on how to read and interpret candlestick charts, which are a type of financial chart used to display price action. The book provides an in-depth guide on how
“A trader sees a bullish engulfing pattern on the daily chart of BHP. But Bedford warns: check the weekly chart first. If the weekly is in a downtrend and the engulfing is just a bounce off a minor support, it’s a trap. The real secret is matching candlestick signals with the larger timeframe’s story.”