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## Technical analysis
# Technical analysis
<br>
## What's technical analysis
* uses trading data to analyse and predict price patterns
* gives us data points to compare and contrast
* uses chart patterns, price data, trading volume and indicators
* allows us to follow a systematic strategy that can be improved
* cannot predict the future
<br>
## Candlestick charts
* data rich trading analysis
* time and price details
* traders use candlestick chat patterns to antecipate the future
* show market high and low for a given time period
* each candle is a period in time
* tells: open/close (body) high/low (wick) for a period of time
<br>
<p align="center">
<img src="https://user-images.githubusercontent.com/1130416/172071731-4cfd9c34-e7c9-4bff-84b1-ec3144ed7516.png" width="20%" align="center" style="padding:1px;border:1px solid black;" >
<img src="https://user-images.githubusercontent.com/1130416/172071770-3cfa971d-28bd-4532-bd48-324a256091b8.png" width="20%" align="center" style="padding:1px;border:1px solid black;" >
</p>
<br>
## Hammer pattern
* bullish pattern
* sellers drove price lower during the day
* buyers came in and the price finished higher
* will continue tomorrow?
* where are open, close, high, low?
<br>
<p align="center">
<img src="https://user-images.githubusercontent.com/1130416/172071878-e34d61ca-61ba-4ba0-b2b5-7f75cd8efa4a.png" width="40%" align="center" style="padding:1px;border:1px solid black;" >
</p>
<br>
## Shooting star pattern
* bearish pattern
* buyers drove price high
* sellers won and price fell lower
* will this continue tomorrow?
<br>
<p align="center">
<img src="https://user-images.githubusercontent.com/1130416/172071957-7c5ff9f4-957a-4cb8-89b1-c091cf4c4cc0.png" width="40%" align="center" style="padding:1px;border:1px solid black;" >
</p>
<br>
## Bullish engulfing pattern
* bullish pattern
* bullish candlestick "engulfed" the bearish candlestick
* represents a strong reversal in the price action
* will continue tomorrow?
<br>
<p align="center">
<img src="https://user-images.githubusercontent.com/1130416/172072021-91b32a2a-08e8-4c68-9756-111ae05764b1.png" width="40%" align="center" style="padding:1px;border:1px solid black;" >
</p>
<br>
## Bearish engulfing pattern
* bearish pattern
* bearish candlestick engulfed the bullish candlestick
* represents a string reversal in the price action
* will continue tomorrow?
<br>
<p align="center">
<img src="https://user-images.githubusercontent.com/1130416/172072097-e9058226-65b4-43ff-a017-f2a235691fc6.png" width="40%" align="center" style="padding:1px;border:1px solid black;" >
</p>
<br>