A daily candle in forex is a type of price chart representing a currency pair's trading activity over 24 hours. Each candle provides four key pieces of information: the opening price, closing price, highest price (wick or shadow), and lowest price (wick or shadow) for that day. The candle's body, which is either green (or white) or red (or black), indicates whether the closing price was higher or lower than the opening price. A green candle means the price increased, while a red candle signifies a decline. The wicks above and below the body show the day’s price extremes. Traders use daily candles to analyse market trends, identify support and resistance levels, and make informed trading decisions. Since each candle represents a full day’s movement, this chart is particularly useful for swing and position traders who focus on longer-term trends rather than short-term fluctuations. By studying patterns formed by multiple daily candles, traders can predict potential reversals or continuations in price movements, helping them strategise entries and exits more effectively.