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Topic: I don't know how to read that new mtgox 24 hr trade chart (Read 2654 times)

bracek (OP)

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I don't know how to read that new mtgox 24 hr trade chart

August 19, 2011, 11:25:57 AM

can someone explain how to read those candlesticks,
red vs green what does it mean ?

322i0n

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Re: I don't know how to read that new mtgox 24 hr trade chart

August 19, 2011, 11:34:48 AM

red price went down, green price went up. same as on the ticker charts at bitcoincharts.com.

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bracek (OP)

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Re: I don't know how to read that new mtgox 24 hr trade chart

August 19, 2011, 12:01:59 PM

Quote from: 322i0N on August 19, 2011, 11:34:48 AM

red price went down, green price went up. same as on the ticker charts at bitcoincharts.com.

still do not understand

what is that candle representing,
not one transaction for sure,
how is it decided when candle stops

what event defines candle bottom, or top

i know it sounds stupid, but i am trying to understand it...

julz

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Re: I don't know how to read that new mtgox 24 hr trade chart

August 19, 2011, 12:07:32 PM

http://www.japanesecandlesticks.com/chartsexplainedindex2.htm

except white is green black is red

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iBug

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Re: I don't know how to read that new mtgox 24 hr trade chart

August 19, 2011, 12:07:50 PM
Last edit: August 19, 2011, 12:20:51 PM by iBug

green -> price went up
red -> price went down

thin line:
top -> hourly high
bottom -> hourly low

"candle" (square):
top -> opening price
bottom -> closing price

322i0n

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Re: I don't know how to read that new mtgox 24 hr trade chart

August 19, 2011, 12:17:08 PM

the length of the candle is the movement in price. if the price has gone up the bottom of the candle will be the open price, the top of the candle will be the close price level. if the price went down the reverse happens.

it is easier to understand on bitcoincharts.com with the more variables to play with the data.

this is the movement of price for 1 day shown in 1 minute candles.
http://bitcoincharts.com/charts/mtgoxUSD#rg1zig1-minzvztgSzm1g10zm2g25

this is the same movement shown in hourly candles.
http://bitcoincharts.com/charts/mtgoxUSD#rg1zig1-minzvztgSzm1g10zm2g25

these are not single trades but price movement over the given time.

the mtgox chart has 24 candles so they are probably hourly candles. you are seeing the price changes each hour for the last 24 hours.

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neofutur

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Re: I don't know how to read that new mtgox 24 hr trade chart

August 19, 2011, 07:22:09 PM

Quote from: bracek on August 19, 2011, 11:25:57 AM

can someone explain how to read those candlesticks,
red vs green what does it mean ?

http://en.wikipedia.org/wiki/Candlestick_chart

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