This newsletter is sponsored by PHEMEX, the world's best crypto exchange for both spot and leverage. Sign up with the link above and get some free Bitcoin. I really encourage you to check them out. They have JUST ADDED a number of altcoin pairs, both perp and spot, including $BAT $CHZ $MANA $ENJ $SUSHI $SNX $GRT $MKR.IF YOU HAVE ANY ISSUE WITH THE NEWSLETTER OR YOUR SUBSCRIPTION, PLEASE CONTACT: PREMIUMSUPPORT@GETREVUE.COWe talk about candlestick charts all of the time - but where do they come from and why are they important?A candlestick chart (also called Japanese candlestick chart) is a style of financial chart used to describe price movements of any asset. Each "candlestick" typically shows one period, thus a daily chart for one-month will show the 20 trading days as 20 candlesticks. Candlestick charts can also be built using intervals shorter or longer than one day.It is similar to a bar chart in that each candlestick represents all four important pieces of information for that day: open and close in the thick body; high and low in the “candle wick”. Being densely packed with information, it tends to represent trading patterns over short periods of time, often a few days or a few trading sessions.The fundamental theory and concepts behind Japanese Candlesticks were invented over three hundred years ago by a Japanese rice trader named Sokyu Honma (1716 -1803). Sokyu lived in Sakata, Japan and was also known as Sokyu Homma and Munehisa Homma.He made extensive studies of the price movements of stocks and commodities, especially rice, which enabled him to identify traits and patterns from daily trading formations. He was then able to produce a very viable trading strategy that made him a very wealthy man. In fact, he eventually developed a very fearsome reputation for diligent and accurate trading which he gained from exploiting his enhanced knowledge of the rice markets and candlestick strategies.Such was his success that Sokyu Honma achieved the rank of honorary Samurai as well as attaining the government rank of financial advisor. He compiled a book in 1755 called the ‘Fountain of Gold – the Three Monkey Record of Money’ in which he detailed his findings and observations on the psychology of trading. Even before the birth of candlesticks, Sokyu produced his famous Sakata’s Constitution which detailed the methods and rules behind his successful trading techniques.Despite a great deal of uncertainty, many experts now acknowledge that Candlestick charts were introduced into Japanese trading circles at the start of the rice markets in 1750. They have also credited Sokyu Homma for much of the pioneering and maturing behind the main principles of Japanese Candlesticks. This remarkable individual was years ahead of his time and is still considered the principle figure of this trading methodology.The Japanese candlestick charting techniques made popular by Homma later made their way to the U.S. around 1850, where technical analysis and price action were further developed by Charles Dow.If you’ve spent some time around the U.S. stock market, that name should sound familiar.Charles Henry Dow founded the Wall Street Journal and later invented the Dow Jones Industrial Average as part of his ongoing market research as it relates to price action.You read that correctly, the founder of both the Wall Street Journal and the Dow Jones Industrial Average was adamant about Japanese candlestick patterns.A Century later, trader Steve Nison has been credited with bringing candlesticks into prominence in the western world and into modern technical analysis study. Nison wrote the book “Japanese Candlestick Charting Techniques” in 1991 and is considered one of the leading authorities on candlestick research and trading strategy.Modern-day interest in Japanese Candlesticks has intensified because so many of its principles blend very well with present-day western technology. As such, you will discover that obtaining a good understanding of Japanese Candlesticks can definitely increase your ability to trade the current markets better. This is because, just as in the same way as Sokyu Honma, you can gain great insights into trading Forex, Stocks or Futures by using this methodology.Finally, you also have the benefit of advanced technology that can help simplify many of the concepts behind Japanese Candlesticks.Live stream today at 2PM EST discussing the market and looking for weekend trade ideas! https://www.youtube.com/watch?v=bVBsdAfw5qoIn This Issue:Japanese CandlesticksBitcoin Thoughts And AnalysisAltcoin Charts5 Bearish Candlestick PatternsSEC Delays Decision On VanEck Bitcoin ETFCoinbase Users Can Buy Crypto With PayPalYou Can Be In The Top 10% Of Bitcoin HoldersNAOS Finance - Permissionless LendingMy Recommended Platforms And Tools
The Wolf Den #232 - Japanese Candlesticks
The Wolf Den #232 - Japanese Candlesticks
The Wolf Den #232 - Japanese Candlesticks
This newsletter is sponsored by PHEMEX, the world's best crypto exchange for both spot and leverage. Sign up with the link above and get some free Bitcoin. I really encourage you to check them out. They have JUST ADDED a number of altcoin pairs, both perp and spot, including $BAT $CHZ $MANA $ENJ $SUSHI $SNX $GRT $MKR.IF YOU HAVE ANY ISSUE WITH THE NEWSLETTER OR YOUR SUBSCRIPTION, PLEASE CONTACT: PREMIUMSUPPORT@GETREVUE.COWe talk about candlestick charts all of the time - but where do they come from and why are they important?A candlestick chart (also called Japanese candlestick chart) is a style of financial chart used to describe price movements of any asset. Each "candlestick" typically shows one period, thus a daily chart for one-month will show the 20 trading days as 20 candlesticks. Candlestick charts can also be built using intervals shorter or longer than one day.It is similar to a bar chart in that each candlestick represents all four important pieces of information for that day: open and close in the thick body; high and low in the “candle wick”. Being densely packed with information, it tends to represent trading patterns over short periods of time, often a few days or a few trading sessions.The fundamental theory and concepts behind Japanese Candlesticks were invented over three hundred years ago by a Japanese rice trader named Sokyu Honma (1716 -1803). Sokyu lived in Sakata, Japan and was also known as Sokyu Homma and Munehisa Homma.He made extensive studies of the price movements of stocks and commodities, especially rice, which enabled him to identify traits and patterns from daily trading formations. He was then able to produce a very viable trading strategy that made him a very wealthy man. In fact, he eventually developed a very fearsome reputation for diligent and accurate trading which he gained from exploiting his enhanced knowledge of the rice markets and candlestick strategies.Such was his success that Sokyu Honma achieved the rank of honorary Samurai as well as attaining the government rank of financial advisor. He compiled a book in 1755 called the ‘Fountain of Gold – the Three Monkey Record of Money’ in which he detailed his findings and observations on the psychology of trading. Even before the birth of candlesticks, Sokyu produced his famous Sakata’s Constitution which detailed the methods and rules behind his successful trading techniques.Despite a great deal of uncertainty, many experts now acknowledge that Candlestick charts were introduced into Japanese trading circles at the start of the rice markets in 1750. They have also credited Sokyu Homma for much of the pioneering and maturing behind the main principles of Japanese Candlesticks. This remarkable individual was years ahead of his time and is still considered the principle figure of this trading methodology.The Japanese candlestick charting techniques made popular by Homma later made their way to the U.S. around 1850, where technical analysis and price action were further developed by Charles Dow.If you’ve spent some time around the U.S. stock market, that name should sound familiar.Charles Henry Dow founded the Wall Street Journal and later invented the Dow Jones Industrial Average as part of his ongoing market research as it relates to price action.You read that correctly, the founder of both the Wall Street Journal and the Dow Jones Industrial Average was adamant about Japanese candlestick patterns.A Century later, trader Steve Nison has been credited with bringing candlesticks into prominence in the western world and into modern technical analysis study. Nison wrote the book “Japanese Candlestick Charting Techniques” in 1991 and is considered one of the leading authorities on candlestick research and trading strategy.Modern-day interest in Japanese Candlesticks has intensified because so many of its principles blend very well with present-day western technology. As such, you will discover that obtaining a good understanding of Japanese Candlesticks can definitely increase your ability to trade the current markets better. This is because, just as in the same way as Sokyu Honma, you can gain great insights into trading Forex, Stocks or Futures by using this methodology.Finally, you also have the benefit of advanced technology that can help simplify many of the concepts behind Japanese Candlesticks.Live stream today at 2PM EST discussing the market and looking for weekend trade ideas! https://www.youtube.com/watch?v=bVBsdAfw5qoIn This Issue:Japanese CandlesticksBitcoin Thoughts And AnalysisAltcoin Charts5 Bearish Candlestick PatternsSEC Delays Decision On VanEck Bitcoin ETFCoinbase Users Can Buy Crypto With PayPalYou Can Be In The Top 10% Of Bitcoin HoldersNAOS Finance - Permissionless LendingMy Recommended Platforms And Tools