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• Archive: Candlesticks are everywhere now.
• Twenty years ago, they were non-existent.
• They have taken over all of the major trading and charting services and applications.Candlesticks have four simple data points:The OpenThe CloseThe HighThe LowThere is a ton of information contained within those 4 bits of info.This visual representation of those 4 data points has been in use in Japan, going back hundreds of years, unknown to the western world.
• It is widely recognized that this changed through the work of Steve Nison, with his book that came out in 1991 called Japanese Candlestick Charting Techniques.
• Here he described and named individual candlesticks (one day) and candlestick patterns (multi-day) that are still in use today.Greg Morris built upon Nison’s work with his book, Candlestick Charting Explained.