Advantages and disadvantages of Japanese candlesticks

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Japanese candlesticks have advantages and disadvantages like any other tool in the world of trading. Learn about the most important advantages and disadvantages in the following points:
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Ease of understanding and reading:
Japanese candlesticks provide a clear visual representation of price movement, making it easy for traders to quickly understand market trends.
Rich details:
Candlesticks provide comprehensive information about the opening and closing prices and the highest and lowest prices in a given period of time, providing a complete view of the market.
Easily identify patterns:
Japanese candlesticks allow traders to identify specific patterns, such as bullish or bearish engulfing, hammer, and doji, which can indicate the possibility of a trend reversal or continuation.
Flexibility:
Japanese candlesticks can be used on various time frames, from minute charts to monthly charts, making them a flexible tool for different traders.
Technical analysis support:
Japanese candlesticks help in applying many technical indicators, such as moving averages and relative strength indicators, which enhances the accuracy of the analysis.