A Candlestick chart is a style of price chart, available on most charting platforms. First used by 18^th century Japanese rice traders, candlesticks were popularized in the West by Steve Nison. Each bar consists of a body and an upper and lower shadow, or wick. The body of the candlestick is generally colored white/green if the price closed higher than the open, or black/red if price closed lower than the open. Candlestick traders look for catchily-named patterns – doji, hammer, evening star, etc. -- to alert them to turns and trends.

In Trader’s Classroom, Jeffrey Kennedy teaches traders how to use Candlesticks in conjunction with Elliott wave analysis. Doing so can add extra confidence and precision to trading plans.For an introduction to these concepts, check out Jeffrey’s video series here.