Types of Candlesticks

Occur when the opening price of the candle is lower than the closing price.
This indicates an appreciation of the base currency relative to the quoted currency.
When part of an overall upward trend, the market is considered bullish, and buying positions are called long positions.
A bullish candle is usually green or white and forms when the price rises.
In Forex terminology, a rising price trend is referred to as bullish
.

Occur when the opening price is higher than the closing price.
This indicates a depreciation of the base currency relative to the quoted currency.
When part of an overall downward trend, the market is considered bearish, and selling positions are called short positions.
A bearish candle is usually red or black and forms when the price falls.
In Forex terminology, a declining price trend is referred to as bearish.

The body of a candle is the space between the opening and closing prices.
If the body is green/white → the candle closed higher than it opened.
If the body is red/black → the candle closed lower than it opened.

The upper and/or lower wick represents the highest and lowest prices reached during the candle’s time period.

Candlestick charts vary based on the time frame: from 1-second charts (measuring instant price action) to yearly charts (tracking price behavior over years).
Bullish candles indicate price increases; in long positions, you want to see consecutive bullish candles.
Bearish candles indicate price decreases; in short positions, you want to see consecutive bearish candles.
Candles consist of a body (difference between open and close) and wicks (high and low prices during the candle’s life).
Candles open and close according to the chart’s timeframe. For example, a 4-hour chart will have candles that open every 4 hours.