Candlestick patterns are the basic indicators that helps a trader find ways of interpreting candlestick charts. This is very useful for creating simple systems that will tell you when a trend is forming so that you can open a trade.
Candlesticks have a form which shows the open, high, low and closing price of a currency, stock or commodity over a period. You can usually select the period that you want to show. 5 minutes is most common for day traders but you might choose 15 minutes in some cases. For longer term trading you can select longer periods.
Identifying and profiting from forex trends and patterns is the way that most forex traders make money. Your main aim when you are trading the foreign exchange market will be to identify a trend as it is forming and jump in so that you can profit from it.
Trends are very simple to see in hindsight when we look at a chart. A candlestick chart shows them most clearly but you can see them on any type of chart.
