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Author Topic: I don't know how to read that new mtgox 24 hr trade chart  (Read 2410 times)
bracek
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August 19, 2011, 11:25:57 AM
 #1

can someone explain how to read those candlesticks,
red vs green what does it mean ?
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322i0n
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August 19, 2011, 11:34:48 AM
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red price went down, green price went up. same as on the ticker charts at bitcoincharts.com.

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August 19, 2011, 12:01:59 PM
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red price went down, green price went up. same as on the ticker charts at bitcoincharts.com.

still do not understand Smiley

what is that candle representing,
not one transaction for sure,
how is it decided when candle stops Smiley
what event defines candle bottom, or top

i know it sounds stupid, but i am trying to understand it...
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August 19, 2011, 12:07:32 PM
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http://www.japanesecandlesticks.com/chartsexplainedindex2.htm

except white is green   black is red

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August 19, 2011, 12:07:50 PM
 #5

green -> price went up
red -> price went down

thin line:
top -> hourly high
bottom -> hourly low

"candle" (square):
top -> opening price
bottom -> closing price
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August 19, 2011, 12:17:08 PM
 #6

the length of the candle is the movement in price. if the price has gone up the bottom of the candle will be the open price, the top of the candle will be the close price level. if the price went down the reverse happens.

it is easier to understand on bitcoincharts.com with the more variables to play with the data.


this is the movement of price for 1 day shown in 1 minute candles.
http://bitcoincharts.com/charts/mtgoxUSD#rg1zig1-minzvztgSzm1g10zm2g25

this is the same movement shown in hourly candles.
http://bitcoincharts.com/charts/mtgoxUSD#rg1zig1-minzvztgSzm1g10zm2g25

these are not single trades but price movement over the given time.


the mtgox chart has 24 candles so they are probably hourly candles. you are seeing the price changes each hour for the last 24 hours.

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neofutur
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August 19, 2011, 07:22:09 PM
 #7

can someone explain how to read those candlesticks,
red vs green what does it mean ?

http://en.wikipedia.org/wiki/Candlestick_chart

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