Basic Candlestick Patterns

While most technical analysts and stock chart-watchers utilize indicators to spot the next trade-worthy move, the shape of a chart's daily (or weekly, or hourly) bars can hold as much valuable information as any other tool.
The practice of looking at the placement of a stock's opening price, closing price, high trade for the day, and low trade for the day- or OHLC bars- is called candlestick analysis. It is believed the Japanese developed the technique, and named it based on the appearance of a chart's bars- they can frequently appear to be a candle with an extended wick, possibly at both ends.
Though there are dozens of meaningful shapes and patterns in candlestick analysis, a few basic ones will adequately get a trader started with the practice.

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