---------- Post added at 02:39 AM ---------- Previous post was at 02:34 AM ----------
Which is better good question and that can be clearify by the trading technique that you use in your speculating process but as i thing as a strategies builder the candlestick is some times we found it very perfect when you applying the right technique to read it with simple way using that candlestick you can determined well the market trend and here is also you can able yo use the price action technique as a simple way to determined how you follow the big movement inside the market.
hello traders I completely understand your trading question regarding the type of charts I think every chat is great and it is completely up to the traders which best suits for him or her. for the more adding to this post I think that candlestick charts works best for me because I analyse it very much according to you it may be the line charts. so we cannot say that big charge is better all the charts are better it just up to us that the chart is works best for us.
Many traders use Japanese candlesticks, bar charts, renko, etc. However, in our opinion, for many futures traders, Candlestick charts provide the most information out of any chart type. At the same time, it can also be overwhelming and confusing if a trader doesn’t know how to interpret and read the specific candle formation. As a trader gains more real time screen experience, he/she will memorize these formations and potentially be able to apply a better analysis to the charts.
A candlestick provides you with information about momentum when you compare the length and the position of the bodies. You can analyze volatility by using the wicks and the size of the individual candlestick wicks.
Do you need to know all the candle chart formation? It helps but, many beginner traders experience a sense of paralysis by analysis when confronted with so much information. This is where the addition of line graphs or point and figure charts can help such traders gain more clarity.
Line graphs provide significantly less information about price because it only connects the closing prices of the given interval. Thus, a line graph filters out a lot of the noise which exists in the candlestick charts.
The line graph is ideal for higher time-frame analysis where a trader does not need to see all the details and just wants to get a sense of direction, analyze market flow and overall trend structure. Here, the line graph should be chosen over the candlestick charts because line graphs provide a clear picture without any noise. The screenshot below illustrates this point nicely; trend moves, trend formation, even price patterns and market formations are very clear and jump right at you.
However, in certain situations, when making trading decisions and fine-tuning trade parameters such as stop loss distance and location, the information of the candlestick charts are necessary to accurately estimate the level of volatility and placing trades. Nevertheless, line graphs and candlestick charts can, and should be, used in combination by traders more often. (The placement of contingent orders such as a “stop-loss” or “stop-limit” order, will not necessarily limit your losses to the intended amounts, since market conditions may make it impossible to execute such orders
There are many methods of trading in the Forex market and therefore you will find some depend on a linear chart because it finds the best and the least in the details and usually those who rely on long-term trading is in need of the general trend more importantly.
As for the Japanese candles, they are very suitable and important for those who rely on the analysis of the Action Price, which depends entirely on the forms that the candles make up.
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