How to Read a Candlestick Chart?

Published on: 30 October 2018 Last Updated on: 04 November 2024

Every online trader knows that reading a candlestick chart is just part of their skillset. Without it, you won’t be able to glean all the information you need about the market in mere seconds. And while other charts offer a lot of data about stocks, trends, and market movement, candlestick charts are quite popular thanks to their ability to condense a lot of information in their structure and the way the body, color, and shape of the candlesticks are represented on the chart. To help you get up to speed with this important concept here’s a breakdown of candlestick charts as well as a guide to doji candlestick pattern.

Unique Candlesticks:

Shaped like a candle, data on the chart are represented by a candlestick shape called the body. That body could be hollow or filled each denoting a different piece of information. There’s also the long thin line above and below the body. They are called “shadows” and refer to the high and low ranges of the price. The top shadow represents the high end of the price while the bottom one is for the low range. A hollow body represents a stock that closes higher than its opening price. In that case, the top shadow refers to the closing price while the bottom shadow represents the opening price. On the other hand, a stock closing lower than its opening price is represented as a filled body with the bottom shadow depicting the closing price while the opening price is represented by the top shadow. Thus it is easier to interpret the candlestick charts compared to other charts and learn more about the market trading with just one look.

Bodies Long and Short:

When you look at the chart and see a long body you can tell right away that there’s a lot of trading on that stock. The opposite is true of short bodies where little price movement is involved. Whether the body is black or white also tells you more about the kind of pressure the stock went through. A long white body means the buying pressure was extreme. They refer to a bullish wave and you should take a closer look at the big picture to make a good decision regarding this stock. Along black body is the exact opposite. It means the opening price declined and selling is rather aggressive. It’s not a good sign for that stock and you might see a panic in the market.

Shadows Long and Short:

Since the shadows represent the highs and lows of the session, there’s a lot you can tell about the session by just observing those top and bottom shadows. Short shadows mean that the majority of the trading was restrained and within the opening and closing prices. Long shadows, on the other hand, mean that prices swung wildly going beyond the open and close. So if you see a long upper shadow and a short bottom one you can conclude that buying was aggressive of this stock with high bid prices but later the highs were tampered leading to a weak close. The same can be read from a short upper shadow and a long bottom one. Selling was dominating the trading of this stock but toward the end of the session buyers forced the prices up giving it a good close.

Doji Pattern:

Doji is another candlestick that represents neutral patterns. However as part of the big picture they can provide a lot of information. You need to take into account the preceding price and future confirmation in order to decide whether the doji points to a bullish trend or a bearish one. A doji means the open and close of the security were equal. But both the previous trend and following candlesticks can change that neutrality. A long white candlestick followed by a doji can mean the buying pressure is easing off. The same applies to a long black candlestick followed by a doji. It means the selling is not as aggressive as before and there won’t be a panic. In general, doji mean the market is stable and both the supply and demand are even around that security.

Candlestick charts are a valuable way to get a lot of information about the trading of a certain stock. It’s a valuable asset in your trading arsenal and will help you become a more successful trader.

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5 Questions To Ask Your Digital Marketing Agency Before You Start Working

In the past few years, brands, regardless of their shape and size have started understanding digital marketing. This means that convincing a majority of them about the advantages of digital marketing has ceased to exist in most situations. You need to do thorough research when choosing a digital marketing agency that you need to partner with. If you are starting from scratch, you need to go via Digitech Web Design, a leading agency that can help you with everything from designing your business website to taking care of your SEO strategies and plans. In 2020, brands are faced with a new challenge- which agency to partner with! Digital Marketing agencies are propping up left, right, and center. While everyone claims to be the best at what they do, it is for brands to be sure of their abilities. In this article, we are going to help brands get on board the best digital marketing agencies as partners. However, before we get to the questions, brands should ask agencies, let us first look at some of the challenges of the same. Challenges to Hiring the Best Digital Marketing Agency for your Brand Every business is unique. It has its own sets of challenges. In terms of priority, some businesses want to concentrate on one aspect, while others look to do something else. It is important that your internet marketing agency understands your needs and requirements as a business. Many brands feel that every digital or internet marketing agency offers the same. However, that is not the case. If you want to work with a complete 360-degree agency, you will have to shell out a premium. Therefore, it is essential to work with a skill set, which you feel would be most helpful for you at a specific time. A creative agency will tell you that it is all about branding, logo, design, and language. An agency geared towards social media would want to focus on just that one aspect. You need to team, which amplifies your complete digital performance at all levels. List of 5 Questions to ask your Digital Marketing Agency before you start 1. What is their area of Expertise? It is essential that you honestly ask them about what their area of specialization at the very start is. Like we already mentioned, while some have a great social team, others might boast of a brilliant SEO team. Depending on what you want to proceed with for the next year, you need to ask them about their different verticals in the organization. 2. What are Budget and Fees? At the end of the day, money matters. If you are looking for a highly-skilled, specialized agency, you need to shell out a good amount as retainer every month. However, if your agency helps you increase your sales and revenues multiple times, you will not feel the pinch. Try starting with a smaller agency to understand those basics and then proceed with the bigger ones. 3. What are their Credentials and Past Work Records? Many brands feel secure when they see that an agency has handled clients in the past from their niche. While this is a great starting point, you should not let your options be limited by just this fact. If they have worked with a business of a similar nature in the past, then they are aware of all the challenges, strategies, and processes, which will be required in the case of your business. 4. What are their Marketing Inputs about your Brand? Most agencies will ask you about your pressure or pain points and then proceed to offer solutions accordingly. You can use this to ask them about larger marketing and sales goals. This will help show you how much they are aligned with your brand. It will also demonstrate whether they understand your issues and are willing to address the same with their skills. 5. What is the Timeframe for seeing Results? You are only working with an internet marketing agency because you want to start seeing results. There is always an expectation involved. Do not fear or feel embarrassed in communicating the same with the prospective agency. This will allow them to assess their performances and see whether they have the capability to fulfill your expectations. The Final Word It is essential that you proceed with these five questions before signing on an internet marketing agency. This will allow you to structure your expectations accordingly. A good digital agency can be a great asset to a brand. However, on the flip side, if you do not get the best agency, you will end up losing money. Read Also: 5 Most Common Digital PR Mistakes And How To Avoid Them How to Empower Your Small Business through Digital Marketing? Why Should You Hire a B2B Digital Marketing Consultant?

How to Get What You Want at Work By Strategic Negotiation

There are things at work that employees want to get and things that employees want to achieve at work, but they keep thinking that it is hard. However, there is something that employees can use to get the things that they want, and that is through strategic negotiation. Negotiating is one of the things that people seriously don’t like. Whether it is a confrontation or mindset that they are people that don't deserve to win, there are a lot of people who avoid any situations which require negotiation. However, strategic negotiation doesn’t have to be always like that. Negotiation can be helpful to achieve the things that you want. Here are the things that you can do to utilize strategic negotiation in getting something at work successfully. Always Prepare When entering a negotiation without a proper plan, strategy and preparation can already conclude your defeat. Always prepare for the battle. Start with yourself. Ensure that you are apparent on the things that you want. Conducting research is important. It can be helpful to understand their needs, as well as their weaknesses and strengths. Ask for your manager or co-employees for some help and opinions. Take Your Time Instant approval for any request at work can tend to be lousy. Some managers do not enjoy negotiating and want to get done with it as soon as possible. It is understandable. However, it is important to take time on asking for something. Just like SEO experts in NYC who take their job seriously, It’s much better when you don’t rush things. Negotiating Process is Continual, Not an Individual Event Excellent negotiating results are just an outcome of a healthy relationship with the involved party. It is necessary to cultivate a relationship ahead of time. For the same reason, it is important that you constantly look for opportunities that will grow your relationship with the management. There are cases that even before having any discussions, managers determine the outcome already. Find the Bargaining Chip In addition to taking advantage of someone’s weaknesses, focus on taking extreme advantage of your strengths. It is essential to establish a firm foundation while negotiating. You can also demonstrate your expertise and knowledge about things. However, make sure that the skills that you’ll show will have a substantial impact on the thing or position that you need. It can determine a good result especially if the managers see that you deserve it. You are already establishing your credibility at work. It is challenging playing catch-up while negotiating, so it is better to take the initiative and guide the process in the direction that will favor you. Don’t Tag Your Ego Along Employees who attain success in getting the things that they want don’t usually show that they care about the result. However, it is their strategy to make the other side feel that it is okay to reject them, just as long as they tried. Timing is Everything Timing is everything, so it is important to pay attention to it. Timing is key in any negotiation. It is important to know what to ask, but you also need to be sensitive when to ask for it. There are times that you can go forward, and there also times that you need to wait. It is best to look for the best time before pressing for the thing that you want. However, watch out of pushing things too hard, because it may pollute a long-term relationship with you boss. Go For a Win-Win Solution Throughout the negotiation, always try to determine things that are acceptable for the management. It can be a mixture of various things that aren’t necessarily everything that you wanted. It is important that you understand the management or your supervisor's priorities, like how you also understand your priorities. So it is better to think of the things that you would do if you were in their position. When constructing a negotiations or requests to your boss, it is okay to attempt in satisfying some of the company's priorities but make sure that it doesn’t weaken your position. Always be ready to give up some things in exchange for the things that you want. It is smart if you know your limits, and how far are you willing to go just to get the deal. Stick To Your Principles As an individual and employee, you will have your set of values and principles that you don’t want to compromise. If you see that the negotiations will break some of those principles, then it can be something that you can throw away. Getting What You Want You can compare successful negotiation to a chess game. It requires different things like awareness, creativity, timing, and anticipation of your opponent’s next move. When using negotiation to get something from work, it is important to anticipate that your boss might have something up their sleeve to rebut and say no to your request. Your moves must be progressive so that you can expect the same from your boss. While creating the plot of the strategy, it is important that you anticipate the end game. Also, you need to be ready for the outcome. After getting the job done, and getting what you want, it is appropriate to end the negotiation with a handshake. Takeaway As an employee, some requests and promotions seem too hard to attain. Negotiations can be helpful for employees to have an approval on the requests and promotions that they are aiming. With proper planning and an in-depth strategic negotiation, you can easily achieve it. The things listed above are the things that can help you get what you want at work.

Should You Consider Outsourcing Your Brand’s Marketing Campaign?

If you’re in higher management, you strive to make sure your marketing team is doing its best to market your brand and bring in leads to the sales team. Lest outsourcing becomes ponders publicity, keeping your organizational processes internally is crucial to you because you want to keep control over operations, and you want to keep costs at a decent minimum. Now you’ve realized that internalizing all of your online marketing efforts might not be working out as well as you’d imagined. Businesses that outsource marketing have specialized marketing services on their side, collaborating with them with every campaign and a new initiative to make sure it’s successful. Online marketing services are often more efficient than an in-house marketing team and, more often than not, more affordable. Systems are even created to make sure your brand still has control over activities and the reputation of the company. Outsourcing your marketing efforts can be a great option if you understand the importance of a powerful marketing campaign but don’t have the resources to do it by yourself. Who Can Benefit from Outsourcing of Brand Marketing Campaign? Many companies and brands decide to outsource their marketing activities to help them create brand awareness and generate leads. But certain businesses tend to use outsourced resources to implement their marketing agendas. Here are some of them. 1. Early-Stage Businesses Upscaling a new business is a challenging and stressful job. You have many decisions to make while developing new services and products. At the early stage of the business, business owners often concentrate their efforts on creating the product and do not have the financial power or the time to hire full-time marketing people. As the company prepares to launch their service, they need to develop a brand image. An outsourced marketing agency often handles the processes that design the style guides and website and creates the company logo. 2. Growing Companies When companies launch their service or product without problems, they often enter a high-growth phase to quickly bring supplementary marketing resources. Outsourced marketing services provide the necessary talent and resources to increase revenue growth without adding a lot of overhead. More often than not, businesses in growth stages cannot afford the time it takes to train and hire new staff members. Outsourced marketing firms or Virtual PA services provide expertise and flexibility during these growth stages. Often, venture capital firms invest in companies at this stage and use the influx of cash to accelerate growth through social media platforms, content marketing, SEO, and digital advertising activities. 3. Companies with Large Marketing Teams Global organizations hire hundreds, if not thousands, of marketing professionals to back their brand and sales initiatives. These enterprises will often use outsourced firms and professionals to provide crucial services. For instance, a company will hire outsourced professionals to promote an event, save money or launch a new project. Outsourced resources are often more affordable than in-house professionals. The company may want to skyrocket a specific product line and outsource for a short-term initiative. 4. Niche Companies Brands and companies that operate in specialty markets like engineering or biotechnology may find it challenging to hire in-house marketers with the experience and the know-how they need to create and launch content marketing campaigns. Outsourced marketing services often specialize in a specific niche market. They bring not only valuable resources but also experience in these unique markets. Virtual assistants, for example, combine technical expertise with marketing education or experience. These professionals work in leading organizations and have a greater understanding of the market than full-time professionals with little experience. When To Do Outsourcing? If you do not see the results you want from your in-house marketing team, then you should consider outsourcing. Your in-house team is working relentlessly with the goals set before them, but the results continue to be short of optimal. Staying on top of performance and campaign optimization isn’t easy. Often in-house teams have no time to optimize these campaigns for better performance, so they end short of hitting their goals. Evaluating the results of marketing efforts is critical to the success of a team not only in-house but for outsourced professionals as well. If it’s been a few months since your brand launched a great marketing campaign, it might be time to outsource marketing. a. Your Marketing Team Is Burned Out In marketing, there is graphic design, copywriting, SEO, website development, email marketing, lead generation, and so much more. How many professionals do you have in your team? Do you have someone assigned to each task involved in marketing, or do you have one marketing guru filling many hats? A copywriter can’t be a graphic designer and vice versa, but so many entrepreneurs expect so much from one marketing employee. One team member cannot meet the massive marketing demands in today’s market. b. You’re Always Running Out Of Time You’re planning a stellar email campaign this month, but your team ran out of time, so you reschedule it. You’re rushing to get the offer, the Facebook posts, and the blog posts out before Christmas. If you feel like you’re always running but never get anywhere, then it might mean you don’t have the necessary systems or strategies in place to run efficiently. c. You Lack Proper Strategy Getting things done might feel rewarding, but those things are time idlers instead of business generators when they are not part of an overall strategy. Posting on social or sharing a blog post is useless unless you have a purpose of reaching your goal. Sharing for the sake of staying active on social media platforms is not a real strategy. You feel the pressure of staying active online, so you ask your marketing team to ensure the social accounts are active always, but you don’t give them a genuine reason. As a business, you have income goals, but if you lack a proper strategy to meet those goals, then you might want to consider outsourcing digital marketing services. Summary That’s all about the logic behind considering outsourcing your brand’s marketing campaign. I hope the article was intriguing enough to make you understand why you should outsource the marketing campaign. The rationale is justified above along with specific situations to make your concept clear. Wanna clear any doubts? Drop your queries in the comment area below. Read Also: What You Need to Know When Outsourcing SEO How Legal Services Outsourcing Aids Law Firms and Legal Departments Balancing the Books with Outsourcing – Virtual Receptionists 9 Things Conservatives & Liberals Have in Common How To Reduce The Operating Cost of Your Business?

How to Read a Candlestick Chart?

Unique Candlesticks:

Bodies Long and Short:

Shadows Long and Short:

Doji Pattern:

The Real Cost of Assortment Planning Mistakes

How Promotional Merchandise Can Change the Way You Do Marketing

Content Rally

Content Rally wrapped around an online publication where you can publish your own intellectuals. It is a publishing platform designed to make great stories by content creators. This is your era, your place to be online. So come forward share your views, thoughts and ideas via Content Rally.

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5 Questions To Ask Your Digital Marketing Agency Before You Start Working

How to Get What You Want at Work By Strategic Negotiation

Should You Consider Outsourcing Your Brand’s Marketing Campaign?

How to Read a Candlestick Chart?

Unique Candlesticks:

Bodies Long and Short:

Shadows Long and Short:

Doji Pattern:

Share this Article

The Real Cost of Assortment Planning Mistakes

How Promotional Merchandise Can Change the Way You Do Marketing

Content Rally wrapped around an online publication where you can publish your own intellectuals. It is a publishing platform designed to make great stories by content creators. This is your era, your place to be online. So come forward share your views, thoughts and ideas via Content Rally.

Leave a Reply

Popular

Follow Us

Recent

Related