Candlesticks were originally developed by Japanese traders who used it to analyze the price-movements only in RICE commodity and find the weakening trends and the potential trend reversals. Those days, candlesticks came in many colors including Blue, yellow, Green and the red but over a period of time, candlesticks have lost their colors. Now they come only in Green and Red but that doesn’t mean that they have lost the respect they command. The application of Candlesticks has got even finer now with multiple applications, chart reading patterns and trading opportunities coming out of these and thus the reason why candlesticks still continue to enjoy the patronage of the best of the traders, financial institutions and also the Banks.
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