![]() Thus, he devised a system of charting that gave him an edge in understanding the ebb and flow of these emotions and their effect on rice future prices. ![]() ![]() Honma traded on the Dojima Rice Exchange of Osaka, considered to be the first formal futures exchange in history.Īs the father of candlestick charting, Honma recognized the impact of human emotion on markets. It is commonly believed that candlestick charts were invented by a Japanese rice futures trader from the 18th century. [b□Who Discovered the Idea of Candlestick Patterns? The actual candle is just a visual record of that price action and all of the trading executions that occurred in one minute. ![]() For this reason, a one minute candle is a plot of the price fluctuation during a single minute of the trading day. The formation of the candle is essentially a plot of price over a period of time. ![]()
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