INTRODUCTION OF CANDLESTICK CHART ?

         INTRODUCATION OF CANDELSTICK PATTREN.

In Forex trading we mostly use CANDLESTICK charts. First we are learning

 about the history of CANDLESTICK. In Japan, rice merchants in the 1700s made candle stick charts in the years of Monhisa Homa (1724-1803). They used two color candlesticks. White and black. In the picture below you see a white candle stick called a blush candle stick More about this source textSource text required for additional translation information

?WHO WAS MANSHA HUMA

so we know that japanese candlestick charts are extremely popular among traders but just how did these charts first come about and why well most sources trace the development of candlestick charts to a japanese rice trader in the 1700s called monahisa hommer as we shall see homer is somewhat of a legendary figure in finance he's been credited by some with a number of incredible developments later on steve neeson is generally considered as the person who brought candlestick charting to the west so who was manahi sahama well manahi sahama was also known as sakuyu homa i don't know if i've said that right but in most technical analysis books he's simply described as a rice merchant who took careful note of price ticks in predicting how future trade prices might happen the truth is that manohar sahama was more than just a simple rise trader apart from being known as the father of japanese candlestick analysis he was also an excellent value investor and quite knowledgeable in futures trading finally dubbed as the god of technical analysis and the first true contrarian trader back in 1700 a futures market had emerged in the rice trading industry as merchants also sold coupons guaranteeing trade prices at a future time a secondary market for these coupons was born and this was where manahissa the investor trader and entrepreneur flourished it's said that hama was able to create a large market of traders in osaka to communicate market prices and it's also said that monahisa's price analysis revolved around the concept of yin and yang representing bear and bull markets respectively hommer claimed that within the instance of one market is the existence of another and he applied weather and volume data in predicting future price action he started by recording the open high low and close of rice prices in the market he observed their patterns and the repetitive signals and gave them names just like the ones we still use to this day 250 years after homer first discovered them he was able to develop so many methods of understanding market price action that he eventually wrote a book called the fountain of gold which is deemed as the first book on market psychology in this book he examines the role of traders emotions and market action and adds that this can be used to position oneself against the crowds he summarized his candlestick patterns in a set of rules called cicada rules that became the basis of modern candlestick charting and according to several sources he followed his first book up with a couple more books called a full commentary on the socata strategy and tales of a life immersed in the market there are plenty of legendary stories on manager hummer's trading performance with some saying that he once made a string of 100 profitable trades in a row at that time he had a tremendous advantage over his fellow traders who were still unfamiliar with the concepts of market psychology and candlestick analysis and price action by the 18th century manahi sahama was already running a managed hedge fund while diversifying his family business to enable them to own huge tracts of land it's said that his net worth in today's terms would be roughly 100 billion dollars and that's why people say that homer was the creator of the first hedge fund aside from amassing plenty of profits from his hedge fund homa was also an avid art collector and an advisor for the world's first sovereign wealth fund in japan even allowing him to attain the rank of an honorary samurai so that pretty much sums up how japanese candlesticks were born in the east and how they have developed over time but how did candlestick charts get from there to here and how did they get from the east over to us in the west well trader and author steve neeson is credited with bringing candlestick charts to the western world and he's considered by some to be the modern father of candlestick charting neeson and his books on candlesticks are extremely influential and we will be referring to them later on in the course when we look at the more advanced patterns 

. LOOK AT PICTURE BELOW

In this picture you call it a bearish candle stick and it is black. Blush Blush candlestick represents high value. The bearish candlestick indicates a lower price. And bears the name of the bearish animal. Belgian animals represent the name of the bull. That means fast bulls. And there are bearish bears. Some time later, MR STEVE NI SON, an American citizen, and his Japanese friend wrote an English book about candlestick. Represents high cost. The bearish candlestick indicates a lower price. And bears the name of the bearish animal. Belgian animals represent the name of the bull. That means fast bulls. And there are bearish bears. Some time later, MR STEVE NI SON, an American citizen, and his Japanese friend wrote an English book about candlestick. The English book written by MR STEVE NISON is a famous book about candlestick. This book became popular all over the world. MR STEVE NISON changed the color of the candlestick. The color of the blush candle is green. More about this source text