Cryptocurrency Trading How to read a candle stick chart Candlestick explanation

Comments (34) on “Cryptocurrency Trading How to read a candle stick chart Candlestick explanation”

1. Simple but effective. Scaling and custom tool bars are my takeaway bonuses.
   Instructing techniques first class.
   Thanks Boss

2. Thanks for the video Todd! I might be jumping the gun here, but I’d love to learn about how you use multiple chart indicators to make actionable trading decisions. For example. Reading Resistance levels, RSI and MACD together. Thanks Todd.

   1. I am working my way up to all that. I need people to be able to understand the basics and then I will do another series on how to apply everything learned and apply it to making a trade. Like I said I am learning myself how to be a teacher. Im just a professional trader. Not a professor.

   2. 51 Percent Crew – Good news. I’ve noticed you attention to the little details elevates your vids over others coving the same content. Thanks for you effort Todd;)

   3. Agree. Please don’t jump ahead. We need to know what all the chart indicators are and why they are important. only then should we try to use them together and what sort of weight should be applied to each indicator

3. Good video and very helpful. I was one of those who didn’t understand candles previously, but this makes perfect sense. Very interested in learning you you set up stops, as well. Question: If the candles in sequence are longer vs shorter, but a trend is emerging, which one is more helpful in making trade decisions? In other words, if you have more variability (a longer wick and candle), how doesn’t that inform your decision vs less variability during that time frame? Thanks!

   1. There is no real short explanation to this because of so many variables. For example. The proper way to do it is wait for a confirmation candle to follow to confirm a trend. Thats the technical aspect of it. Unfortunately crypto markets move faster then any other market so most of the time on short time periods waiting for a confirmation candle is not always the best option for crypto. My advice to your question would be for a longer candle go into a shorter time frame. What this will do is give you multiple candles to look for a pattern. This will give you more detail and possibly give you that confirmation candle for the trend you are looking for in the larger candle.

4. Nice tips on speeding charting process!
   Next videos, maybe explanation on indicators you use such as SMA, RSI etc

   1. People need to crawl before they walk. I have already noticed by simply showing people how to use a fib tool I had to back up and explain how to read a candle. It will all evolve over time. My goal is to create the basic series and then once people understand how to do that show them how to apply all the stuff they learned to trading

   2. Agreed, next video on indicators please.

5. Would love to see your entire process start to finish of picking a trading pair, picking the entry or entry stages, setting targets, and execution. I believe this would require a series of videos to adequately explain the indicators used for the decision making process.
   Do you have a check list such as:
   Sentiment
   Patterns
   Indicators
   Price action
   Thanks!

   1. A well seasoned trader has a vision. It comes down to predicting the market movements. He will not stick to a checklist. Every market is different and constantly changing therefore a single set strategy can not be universally applied. The key to a successful trade is being able to read that market and adapt a strategy. What works in some markets can wreck you in others. I kind of get what you are asking for. The videos will get more advanced as time goes on.

6. Great that you are keeping it short and to the point, very helpful for those with no prior knowledge and allows each point you focus on to be absorbed. Teachers aren’t always made, some are just naturals, and you have it! There are many experts in various fields but they cannot always impart their knowledge in meaningful ways. I think the teaching that you are doing will also help you in ways you couldn’t have expected! A huge thank you for taking the time to break it all down.

   1. I am trying to keep these no longer then 10-15 mins so people can absorb the most amount of info in the shortest amount of time effectively.

7. Really good video Todd, thanks. Would be great if you could explain some good indicators to use.

8. Kind of like you’re prescient as far as the exact thing on my mind with every TA video you do. Like scaling, fibs, and the favorites toolbar were just what I had been trying to figure out. For a non-tech person, Trading View can be be challenging (especially if you have never used other editor-type software) but every day I get better and a lot is thanks to your last few videos. Cheers

9. A few people have said it already, but a vid on interpreting volume action would be great. Keep up the vids!

10. Thanks for this Todd!
    I think it will also be helpful if there will be a video of what strong candle or candle patterns you look for when you see a chart.
    Overall, love the video because it is straightforward and l learned about how important it is to be accurate when doing some chart reading and of couse how to save up alot of time by using the log and auto and also the favorites!
    Looking forward for more videos Todd! 😀

11. Hi Todd, thanks for the awesome tutorial once again, I think keeping a running number on your tutorials will be great for reference. You can name your first tutorial as 51PC0001 follow by the title, and then 51PC0002, 51PC0003 and so on…

    Also, I don’t see you use indicators much. I’d love to learn more about leading/lagging indicators, especially the common ones like MACD, RSI, Stochastics, Parabolic SAR and Bollinger Bands.

    1. I use indicators all the time. Generally when I post a TA I have already removed them and cleaned up my chart.

12. Great videos Todd. Would love to see some tips how to enter a trade. You mentioned before that you don’t buy at price levels but at price zones. Curious how you set up your orders inside that buy zone and how you determine your exit. Keep up the good work.

13. Todd, you’re a better teacher than perhaps you realise. And you’re getting better. So many online teaching videos, about whatever subject, are full of waffle. You get right to it. No padding. Really clear. I find it very useful and informative and I am at the absolute beginner level. Thank you.

14. Thanks Todd, you’re videos are really helpful!! Looking forward to see more. Thanks for helping others thru facebook, youtube etc!

15. Thanks Todd! So helpful. Hope these keep coming!

16. First of your videos I have seen. Very informative for somebody just beginning to learn charting. Look forward to going through your other videos. Thanks for putting this out there.

17. I just want to thank you so much for these videos. This is my second time through them and I am way more confident in the market now. Can’t wait for some more videos with more advanced information. Love the Facebook as well. – Patrick Provance.

18. Thanks, Todd. Question: when you refer to “open” and “close”, is that based on Greenwich Mean Time, or SOME time zone? Also, (forgive my ignorance) what does 51% refer to? Thanks.

19. Thanks Todd just just came across your videos really appreciate what you are doing. It’s helping me a lot

20. Nice video, dealing with candlestick charts and it’s strategy is like placing a bet on your account that is not guarantee when trading alone. To my understanding when dealing with such strategies and charts you require a good and genuine broker who can analyse every bit of the trading and how it works.

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