Grade 3 of 10
Chart Class
How to read a chart: candles, timeframes and the patterns candles make. Charts work the same way for forex, crypto and stocks.
17 lessons · about 50 minutes · Badge: Candle Reader
0/17
Start Grade 3After this grade you can
- Read one candle: open, high, low, close
- Pick a timeframe and know what it shows
- Spot a hammer, a doji and an engulfing candle
- Know why one candle is never the whole story
Lessons
Charts 101
- 1Line vs bar vs candle (and why candles dominate)Distinguish between line, bar, and candle charts and explain why traders favor candles.3 min
- 2Anatomy of a candle (open, high, low, close, body, wicks)Identify the five parts of a candlestick and explain what each one tells you about the period.3 min
- 3Timeframes from 1m to monthly: what each tells youExplain what each common timeframe represents and what kind of trader uses it.3 min
- 4Choosing a primary timeframe and an entry timeframeApply a two-timeframe framework that uses a higher chart for context and a lower chart for entries.3 min
- 5Multi-timeframe alignment basicsApply a three-timeframe check so your higher, primary, and entry charts all point the same direction before you trade.3 min
- 6Log vs linear price scaleDistinguish when a logarithmic price scale tells a truer story than a linear one and choose the right scale for your timeframe.3 min
- 7Reading volume barsExplain what volume bars represent and identify the three signals a trader cares about most.3 min
Reading Candles
- 8Hammer and inverted hammerIdentify a hammer and an inverted hammer from a candle's body and wick proportions.3 min
- 9Shooting star and hanging manDistinguish a shooting star from a hanging man using location and prior trend.3 min
- 10Doji types and what they meanIdentify the four common doji shapes and explain what each says about the session.3 min
- 11Bullish and bearish engulfingIdentify a true engulfing pattern by checking that the second candle's body fully covers the first candle's body.3 min
- 12Morning star and evening starIdentify a three-candle morning or evening star and explain the story each candle tells.3 min
- 13Three white soldiers and three black crowsIdentify three white soldiers and three black crows and explain the continuation-vs-exhaustion debate.3 min
- 14Inside bar and outside barDistinguish an inside bar from an outside bar and explain what each says about market expansion or compression.3 min
- 15Tweezer tops and bottomsIdentify a tweezer top or bottom and apply it as a signal of failed continuation at a tested level.3 min
- 16Pin bar in contextApply context filters to tell a tradable pin bar from a deceptive long-wick candle.3 min
- 17The marubozu and what no-wick meansExplain what a marubozu reveals about session conviction and how to read its appearance in a trend.3 min
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Demo first. Trading has risk of loss. Education, not financial advice.