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Body and body parts of Candles formed in candlestick charts

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Technical Analysis

Body and body parts of Candles formed in candlestick charts

Posted by NIFM
21-Aug-13 07:52PM

Body of candles is like a candle with a stick on top and bottom of the candle, with a open, low, close, high, upper shadow and bottom shadow, like it appears in below image:

The body of candlestick have small thin lines above and/or below the body. These lines are called shadows and represent the high and low prices reached during the day. The upper shadow (uwakage) represents the high price and the lower shadow (shitakage) represents the low price. Some Japanese traders refer to the upper shadow as the hair and the lower shadow as the tail. It is these shadow that appearance of a candle and its wick .

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