Trade Bitcoin Trading

All Candles Pattern Setups

Bullish Candles Patterns & Bearish Candles Patterns and Candlestick Continuation Patterns PDF

Brief History

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

They were used by the legendary rice trader for predicting future market bitcoin prices. After dominating in the rice market, Munehisa then eventually moved to Tokyo exchanges where he then gained a huge fortune using this trading analysis. It's said that He made over 100 consecutive winning trade transactions.

Types of Bitcoin charts

There are 3 types of charts used in BTCUSD Crypto: Line, bar and candles.

Line - draws a continuous line connecting closing bitcoin prices of bitcoin crypto.

Advanced BTCUSD Candlestick Setups Examples Explained Tutorial

Bars - illustrated as sequence of O-H-C-L bars. OHCL represents OPEN HIGH LOW & CLOSE. Opening bitcoin price is displayed as a horizontal dash to the left and closing bitcoin price as a horizontal dash to the right.

Bar BTCUSD Chart in BTCUSD - Advanced BTCUSD Candlesticks Setups Explained Tutorial

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

Candlesticks Patterns - Best Candlesticks Book - these use the same bitcoin price data as bar crypto charts (open, high, low, & close). However, they are displayed in a much more visually identifiable way that looks like a candle with wicks on both its ends.

How to Interpret Best Candles Book

Rectangle section is called the body.

The high and low are described as shadows and drawn as poking lines.

Crypto Candlesticks Book - Advanced BTCUSD Candle Setups Explained Guide

The color is either blue or red

  • (Blue or Green Colour) - Bitcoin Prices went up
  • (Red Colour) - Bitcoin Prices moved down

Most bitcoin softwares like the MetaTrader 4, use colour to mark direction. Color used are blue or green: when bitcoin crypto price moves up, red: when btcusd crypto price moves down.

Crypto Candle Book - Advanced BTCUSD Candle-stick Setups Explained PDF - How Do You Interpret a Candle Pattern?

Candles Vs. Bar Bitcoin Chart

When candlesticks are used it is very easy to see if the bitcoin price moved up/down as compared to when the bars are used.

The Best Candlesticks Book also have very many formations that are used to trade the Bitcoin market. Best Candlesticks Book - candlesticks setups have different trading analysis explanation and the most common Best Candlesticks Book are:

Marubozu Bitcoin Candle Setup and Doji Bitcoin Candlestick Pattern
Spinning Tops
Reversal Setups
Inverted Hammer BTCUSD Crypto Candlestick Pattern and Shooting Star Bitcoin Candlestick Pattern
Piercing Line BTCUSD Crypto Candlestick Pattern and Dark Cloud Cover Bitcoin Candlestick Pattern
Morning Star Candles and Evening Star Candlesticks

The above Best Candlesticks Book and Patterns is what makes the Japanese candles patterns popular among traders and it's why this type of analysis are most commonly utilized when it comes to analyzing the btcusd market. The analysis for these Japanese candles pattern setups in bitcoin trading is the same as that one used in stocks trading - Best Candlesticks Book.

Drawing japanese Candlesticks BTCUSD Charts on MT4 Platform

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

MetaTrader 4 Line, Bar, Candlestick Chart Drawing Tool Bar

To view this toolbar in MetaTrader 4 navigate to the 'View' Next to file on the top-left corner of MetaTrader 4 Software, Click 'View', Then Click 'Tool bars', Then check 'Charts' Button. Above Charts toolbar will appear.

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

All Candles Pattern Setups. Advanced Candles Pattern Setups Book PDF - Advanced Candles Pattern Setups. Bullish Candles Patterns & Bearish Candles Patterns and Candlestick Continuation Patterns PDF - How to Read Candlestick Bitcoin Chart for Day Trading

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