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Would you like to inspect the original subtitles? These are the user uploaded subtitles that are being translated: 1 00:00:00,500 --> 00:00:05,940 Hello, everyone, welcome to the course, we will be starting at candlestick module from scratch. 2 00:00:05,960 --> 00:00:09,970 So let's begin what are candlesticks? 3 00:00:09,980 --> 00:00:17,060 I'll be explaining this in a very simplified form so all of my student can learn in a very effective 4 00:00:17,060 --> 00:00:17,320 way. 5 00:00:17,780 --> 00:00:18,620 So let's begin. 6 00:00:19,090 --> 00:00:26,390 In the early 18th century, there was a Japanese businessman named Mona Lisa, whom he developed a technical 7 00:00:26,390 --> 00:00:29,750 analysis method to analyze the price of rice contracts. 8 00:00:30,250 --> 00:00:35,480 He was a rice future trader and is also known as the grandfather of candlesticks. 9 00:00:36,440 --> 00:00:42,350 To date, this technique is called candlestick charting and is widely used when we draw financial market 10 00:00:42,350 --> 00:00:42,890 charts. 11 00:00:43,790 --> 00:00:50,780 The prices on the charts of the financial market assets, which we see are denoted by the candlesticks. 12 00:00:51,170 --> 00:00:57,200 The candlesticks are very helpful while trading and investing as they show us for price points. 13 00:00:57,590 --> 00:01:05,480 The opening price of an Esther, the closing price of an asset, the high and the low display very crucial 14 00:01:05,480 --> 00:01:07,850 role in our trading and investing journey. 15 00:01:08,540 --> 00:01:15,020 Candlesticks are used by traders and investors for looking certain chart patterns, candlestick patterns 16 00:01:15,020 --> 00:01:15,650 on the chart. 17 00:01:16,640 --> 00:01:18,830 Each candlestick has a story to tell. 18 00:01:19,340 --> 00:01:21,650 Candlesticks are the language of the market. 19 00:01:21,950 --> 00:01:25,520 They give us a picture what is going on behind the scenes in the market. 20 00:01:25,820 --> 00:01:31,130 Either the sellers are in the control or the buyers are in the control, or if there is a tug of war 21 00:01:31,130 --> 00:01:31,730 between them. 22 00:01:32,120 --> 00:01:39,110 That is why it is very crucial to understand that there are two types of candlesticks the Polish and 23 00:01:39,110 --> 00:01:39,740 the Burish. 24 00:01:40,160 --> 00:01:44,900 This is a hypothetical example and we covering a real short example. 25 00:01:44,930 --> 00:01:51,910 Also, let's suppose, for example, if we go to trading dot come to analyse any chart bear. 26 00:01:52,250 --> 00:01:56,000 So for this purpose, I opened the Bitcoin daily time frame chart. 27 00:01:56,570 --> 00:02:03,380 The bullish candlestick shows us the opening price of an asset on this specific date. 28 00:02:04,010 --> 00:02:07,730 What was the opening price and what was the closing price of an asset? 29 00:02:08,810 --> 00:02:17,660 And these weeks, which you can see, this shows us the highest price and the lowest price of an asset 30 00:02:17,660 --> 00:02:18,920 on this specific date. 31 00:02:19,370 --> 00:02:23,510 The price, as you can see, the price made a high but closed the price. 32 00:02:23,660 --> 00:02:31,070 The price went all the way up, but closed at this specific point up for the better. 33 00:02:31,150 --> 00:02:40,850 Scandalously, the the price opened here at the the candlestick and closed at this point in this bearish 34 00:02:40,850 --> 00:02:41,420 candlestick. 35 00:02:41,600 --> 00:02:44,990 The price drop, hence the closing price was this. 36 00:02:48,610 --> 00:02:55,000 I've opened the Bitcoin daily chart, as you can see, the candle sticks, the green candlesticks represent 37 00:02:55,000 --> 00:02:58,900 the polished candlesticks and the British candlesticks represent a the. 38 00:02:59,840 --> 00:03:06,780 So these are the standard colors on every chart, you can change them to your desired color in the settings. 39 00:03:07,100 --> 00:03:13,850 So these are the default settings on every chart you'll see the green one for the Polish and the red 40 00:03:13,850 --> 00:03:14,810 one for the British. 41 00:03:15,290 --> 00:03:20,780 So for this purpose, let me show you that life example. 42 00:03:24,980 --> 00:03:29,090 Now, this one, as you can see, this green candle, this is the Polish Kandinski. 43 00:03:29,510 --> 00:03:36,320 So now on 24 September 2020, the opening price of Bitcoin was. 44 00:03:38,220 --> 00:03:40,390 Ten thousand two hundred forty eight dollars. 45 00:03:40,650 --> 00:03:42,960 This was the opening price of the Bitcoin. 46 00:03:44,040 --> 00:03:49,440 This was the closing price of the Bitcoin at ten thousand seven hundred and thirty five dollars. 47 00:03:51,090 --> 00:03:56,610 And this was that this week was the highest, which is at around ten thousand seven hundred ninety one. 48 00:03:57,630 --> 00:04:03,990 And the lowest price on this day was at ten thousand one hundred ninety two. 49 00:04:04,740 --> 00:04:08,310 This is the Polish candidate, as you can see this. 50 00:04:08,940 --> 00:04:14,850 But the Bitcoin on this specific date, the price opened here and closed at this point. 51 00:04:15,210 --> 00:04:18,120 So now let me show you the bearish example. 52 00:04:18,880 --> 00:04:24,690 Now, as you can see, this is the bearish contesting the price on this specific. 53 00:04:24,690 --> 00:04:31,620 They are going to three September 2020 open at ten thousand five hundred and thirty one dollars and 54 00:04:31,620 --> 00:04:37,650 closed around ten thousand two hundred thirty seven dollars. 55 00:04:39,210 --> 00:04:43,380 The price and high priced at almost no high. 56 00:04:43,380 --> 00:04:45,450 A small peak around twenty dollars above. 57 00:04:45,660 --> 00:04:47,310 And the price Marullo at. 58 00:04:50,120 --> 00:04:52,340 Ten thousand one hundred thirty two dollars. 59 00:04:52,580 --> 00:04:53,310 This was the law. 60 00:04:53,390 --> 00:04:54,860 These were the candlesticks. 61 00:04:54,860 --> 00:04:58,370 We'll be learning candlestick patrons in the next module. 62 00:04:58,460 --> 00:05:00,550 It is going to be very thrilling. 63 00:05:00,560 --> 00:05:02,200 I'm excited to teach you. 64 00:05:02,210 --> 00:05:03,100 Looking forward. 65 00:05:03,290 --> 00:05:04,550 Stay tuned, everyone. 6505