A deeper look into candlesticks – another type of chart pattern and how they help traders identify trends and prices. Candlesticks are a common chart type that helps traders to identify relevant asset prices — the opening, high, low and closing (OHLC) prices within a defined and constant time frame. Red colour on BitMEXThe opening price was higher than the closing price within the timeframeThe longer the red body, the more bearish the price movement was. Green colour on BitMEXThe opening price was lower than the closing price within the timeframeThe longer the green body, the more bullish the price movement was. Later we will explore the different types of candlestick patterns, specifically bullish candlestick patterns.