Community Forex Questions
Who is the the father of candlesticks?
The father of candlesticks, also known as the father of Japanese candlestick charting, is Munehisa Homma. He was a Japanese rice merchant who lived in the 18th century and is credited with creating the candlestick charting technique, which is now widely used in financial markets.
Homma developed this technique to analyze the price movement of rice in the market, as he believed that understanding the psychology and emotions of traders was key to predicting market trends. He used the candlestick charting method to record the price movement of rice, which helped him identify patterns and make better trading decisions.
Homma's contribution to technical analysis and charting techniques is still revered by traders and investors around the world. The candlestick charting technique has since been adopted in various markets, including stocks, commodities, and forex, and is considered an essential tool for any trader.
Homma developed this technique to analyze the price movement of rice in the market, as he believed that understanding the psychology and emotions of traders was key to predicting market trends. He used the candlestick charting method to record the price movement of rice, which helped him identify patterns and make better trading decisions.
Homma's contribution to technical analysis and charting techniques is still revered by traders and investors around the world. The candlestick charting technique has since been adopted in various markets, including stocks, commodities, and forex, and is considered an essential tool for any trader.
The father of candlesticks is Munehisa Homma, an 18th-century Japanese rice trader. Born in Sakata, Japan, Homma is credited with developing the candlestick charting method used to analyze price movements in trading. He gained fame for his deep understanding of market psychology and the patterns formed by price fluctuations.
Homma used candlesticks to represent price data, including the open, high, low, and close and identified recurring patterns to predict future movements. His insights are captured in his writings, such as the Sakata Rules, which emphasize discipline, trend recognition, and emotional control.
Modern technical analysis owes much to Homma's innovations, as candlestick charts are now a staple tool for traders worldwide in markets like forex, stocks, and commodities.
Homma used candlesticks to represent price data, including the open, high, low, and close and identified recurring patterns to predict future movements. His insights are captured in his writings, such as the Sakata Rules, which emphasize discipline, trend recognition, and emotional control.
Modern technical analysis owes much to Homma's innovations, as candlestick charts are now a staple tool for traders worldwide in markets like forex, stocks, and commodities.
Apr 10, 2023 10:44