Basic Candlestick Types

As we can see on the chart below, candlesticks are formed in various shapes and sizes. While it is intuitive to understand the meaning of the colors; Red- the security declined, Green- the security went up, according to the type of security we are trading, traders will often encounter different types of candles that differ from the standard ones, green and red.
To understand the difference more thoroughly, we will first distinguish the different types of securities available for trading.
 

Forex market- The Forex market differs from all the different tradable markets as its trading hours are continuous; meaning that unlike stock exchanges that are open for approximately 8 hours a day (depending on the exchange), the Forex market is open 24 hours a day from Sunday (21GMT) to Friday (21GMT).

       
        *courtesy of netdania.com

The following chart shows the price movement of the USD/JPY, from the beginning of the housing crisis in the U.S. Taking a glance at the following chart, one can see that this carry trade*, started to decline during the middle of 2007, just as all the economic problems started to appear in the U.S, forcing the Federal reserve to lower interest rate, making their currency less appealing to foreign investors.

            
     
      *courtesy of netdania.com