A daily candle in forex is a type of price chart representing a currency pair's trading activity over 24 hours. Each candle provides four key pieces of information: the opening price, closing price, highest price (wick or shadow), and lowest price (wick or shadow) for that day. The candle's body, which is either green (or white) or red (or black), indicates whether the closing price was higher or lower than the opening price. A green candle means the price increased, while a red candle signifies a decline. The wicks above and below the body show the day’s price extremes. Traders use daily candles to analyse market trends, identify support and resistance levels, and make informed trading decisions. Since each candle represents a full day’s movement, this chart is particularly useful for swing and position traders who focus on longer-term trends rather than short-term fluctuations. By studying patterns formed by multiple daily candles, traders can predict potential reversals or continuations in price movements, helping them strategise entries and exits more effectively.

A daily candle in forex is a visual representation of price movements within a 24-hour trading period on a candlestick chart. Each candle consists of a rectangular body and thin wicks (or shadows) at the top and bottom. The body shows the opening and closing prices—if the close is higher than the open, the candle is typically green or white (bullish); if the close is lower, it’s red or black (bearish). The wicks indicate the highest and lowest prices reached during the day. Traders analyse daily candles to identify trends, reversals, and key support/resistance levels. Since they provide a clear snapshot of market sentiment, daily candles are essential for both technical analysis and strategic decision-making in forex trading.