| Candlestick analysis has been known to appear | | | | long thin lines which are found both above and below |
| around the 1850s, wherein it has been credited to a | | | | in the body which are said to represent ranges from |
| rice trader who has been very legendary who was | | | | low to high and these are known to be "shadows", |
| known as Homma who is from the Sakata town. His | | | | "wicks", or "tails". In the candlestick chart, once the |
| ideas were then modified and in the long run refined | | | | stock closes with a value higher than the opening |
| through the years of trading which then resulted to | | | | price you will see that the hollow area of the |
| the type of candlestick charting which is now being | | | | candlestick is usually drawn wherein the bottom area |
| used today in the market. | | | | of the body is said to represent the opening price, |
| With the candlestick analysis, you have to keep a set | | | | furthermore, the top of the body represents the |
| of data which is able to contain the following values: | | | | closing price. But since the forex market never opens |
| open, close, high, and low; these values are used at | | | | and closes, how can there be an open and closing |
| certain periods depending on when you want to | | | | price? To identify this information, the chart provider |
| display them. There is an area called "the body" which | | | | will decide on a time, say 5 PM EST, as the daily |
| is seen to be either hollow or filled; there are also | | | | open and closing time. |