Both bar charts and candlestick charts are commonly used tools in technical analysis to visually represent price movements in financial markets. They both display the same type of information (open, high, low, and close prices) but do so in slightly different ways. The choice between bar charts and candlestick charts often comes down to personal preference and the type of information a trader wants to emphasize.
In a bar chart, each price interval (such as a day or an hour) is represented by a vertical line and two horizontal ticks. The top tick represents the highest price during that interval, the bottom tick represents the lowest price, and the vertical line connects the opening price on the left and the closing price on the right.
Candlestick charts also display the same open, high, low, and close prices, but they do so in a more visually distinct way. Each interval is represented by a rectangular "candlestick." The top and bottom of the candlestick represent the high and low prices, and the body of the candlestick (the rectangle) represents the difference between the opening and closing prices. If the closing price is higher than the opening price, the body is typically filled or colored. If the opening price is higher than the closing price, the body is usually left blank or colored differently.
Bar charts are often preferred by commodity or grain futures traders for a few reasons:
Bar charts can be less visually cluttered, making it easier for traders to focus on the key price points (open, high, low, and close) without the additional visual elements that candlestick charts introduce.
Bar charts provide a clear representation of price ranges between the open, high, low, and close, making it straightforward for traders to compare price movements across different time intervals.
Bar charts have been used in commodity and grain markets for a long time, contributing to their continued popularity and familiarity among traders in these markets.
I feel that the simplicity of bar charts help avoid potential biases introduced by the visual patterns and formations that can be associated with candlestick charts and, that's why, I prefer bars before candles.
 |
old wheat futures chart, showing the simplicity of it
|
I've just revamped my blogger design with some friendlier night colours as well as making it look like a vintage computer monitor.
Trading goes on.
Wheat: Wheat futures opened higher on Tuesday, with Chicago Board of Trade July futures up 10 cents at $10.73 a bushel. The market is supported by concerns about tight global supplies, as the war in Ukraine has disrupted exports from one of the world's largest wheat producers.
Corn: Corn futures also opened higher on Tuesday, with CBOT July futures up 4 cents at $7.70 a bushel. The market is supported by concerns about dry weather in the U.S. Midwest, which could hurt yields.
Soybeans: Soybean futures opened lower on Tuesday, with CBOT July futures down 1 cent at $16.72 a bushel. The market is pressured by concerns about demand, as China has been buying less soybeans in recent months.
Overall, the grain futures market is mixed on Tuesday, with wheat and corn supported by concerns about tight supplies, while soybeans are pressured by concerns about demand.
Here are some additional factors that could impact the grain futures market in the near term:
Weather: Dry weather in the U.S. Midwest could hurt corn and soybean yields.
War in Ukraine: The war in Ukraine could continue to disrupt global grain exports.
Demand: China's demand for soybeans could continue to be weak.
I got acquainted to backshifting movement some ten or more years ago. It started with people choosing a rather more simple way of life, detaching from technology and going analogue. Sometimes, it would be just moving from cities to smaller places as villages or remote houses. Sometimes, it would be going for a minimalist home, giving away all unnecessary objects from your life. Later on, I started thinking about how unnecessary is the centralized way of life, mind and governance.
During that time, me and my family decided to start occasionally visiting my grandparents' house, located in a small Bulgarian village. Back then it was returning to my roots, a process of learning or reinventing things forgotten from childhood. It was good to spend time outdoors in the yard of my grandfather's house, working on the soil and with the soil, learning to cultivate land and seed. There was a well in the yard of the house and it brought to my mind the idea how a family, living in the very same house, could be self-sustainable and not dependent on the centralized water supply system. There are many other ways of getting water, for example, from not centralized source but on your own -- collecting rainfall water, storing and distributing among small community members. The same thing can be applied to all aspects of life so that we get detached from the central overlord and rely on our own efforts, local communities, families and friends.
This is backshifting - realizing that returning back is going forward, choosing smaller, means going bigger and understanding whole picture. Smaller societies, smaller organizations or smaller companies prove to be rather more peaceful, creative, self-sustainable as well as less aggressive and evil. The power of bigger unity corrupts and gives false feeling of impunity. The bad thing is that our society got built either naturally or synthetically, I don't know, over one center of power during time and history, developing all its relations by delegating to this overlord the right to decide for everyone within. The good thing is that decentralization is sneaking in from our past and history or better to say pre-history with societies and individuals helping each other survive in harsh environment; it is sneaking in now through such achievements as peer-to-peer information exchange, cryptography and blockchain. Technology is not bad, it is good, but in bad hands it is bad. If technology is very centralized it becomes evil. If it is decentralized, it belongs to everyone and it is good.
<![CDATA[
<script async="async" src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>]]> RT @GrainStats: Events in the Corn Market๐ฝ Colorized, 2023 https://t.co/9psg6goFJu
<![CDATA[
<script async="async" src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>]]> Women-Led Punk Bands - https://t.co/MUdzlILGLY #punk
<![CDATA[
<script async="async" src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>]]> RT @cer_hedge: #corn #ck3 spot corn-- Almost 50 cent rally since the low at $6.07- Hitting the 62% overnight. Probably just a coincidence.. #fibonacci- he's dead 750 years but still slinging size in the grains. #oatt https://t.co/cZ6Ha8KbVj
<![CDATA[
<script async="async" src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>]]> I just posted "HP iPAQ 514 Voice Messenger Windows Mobile 6" on Reddit https://t.co/fLqwSxSgPm
<![CDATA[
<script async="async" src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>]]> RT @JamesMelville: France ๐ซ๐ท A clip that has not been shown on the vast majority of our mainstream broadcast media. The police get stuck into the protesters in Paris. #FranceProtests #Paris https://t.co/eSJwnZOllk
<![CDATA[
<script async="async" src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>]]> Disguising solar panels as ancient Roman tiles in Pompeii https://t.co/evq6YOlheu #solarpunk #sustainable #sustainability
<![CDATA[
<script async="async" src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>]]> How this weekโs #USDA report could impact profits https://t.co/BK6sGUMWF9 #grains #corn #wheat #soybeans #futures #trading #mkt #farm
<![CDATA[
<script async="async" src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>]]> RT @MidwestMarkets: Texas #corn planting is 52% complete vs. 45% on average.#oatt
<![CDATA[
<script async="async" src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>]]> RT @WorldAndScience: Fascinating: pebbles on the surface Mars (viewed by the Curiosity rover) (Credit: NASA/JPL-Caltech/MSSS/Kevin M. Gill) https://t.co/mWGogCh20v
<![CDATA[
<script async="async" src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>]]> RT @GrainStats: ๐ฝFood Propaganda ๐งต A thread of posters mostly created during the War era in the United States weaponizing agriculture to win the war. Fitting for the times https://t.co/BE4tKvOhDq
<![CDATA[
<script async="async" src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>]]> RT @MissTrade: US National Debt โ A Different Perspective | https://t.co/hSHOoXl2My https://t.co/GVfg52Sjy3
<![CDATA[
<script async="async" src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>]]> RT @NatlFarmers: Outside #markets are commodity mixed, US dollar is lower (positive for exports), #metals higher (inflation guide), #energies are lower (petro grains) and equities are slightly higher
<![CDATA[
<script async="async" src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>]]> RT @SolarpunkNomads: GM friends! The official results from #gitcoin Alpha Round are out ๐๐ We are stocked to confirm that we have been the 5th more supported project in the Climate Solutions round. We feel humbled and grateful for your amazing support ๐๐ฅฒ https://t.co/D8rFZbVSdy
<![CDATA[
<script async="async" src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>]]> RT @Wizbit_io: "Be tolerant with others and strict with yourself." - Marcus Aurelius
<![CDATA[
<script async="async" src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>]]> RT @Reuters: India should keep lid on wheat exports to replenish local stocks - flour millers https://t.co/JvXexXGIpL https://t.co/jAYxGQ0i73
<![CDATA[
<script async="async" src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>]]> RT @NatlFarmers: Money managers halved their bullish bets across U.S. #grain and oilseed futures and options in the last week of February - shedding a record 265k contracts from their combined net long across #corn, #wheat, #soybeans, and soy products.
<![CDATA[
<script async="async" src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>]]> Production recovery sees Kazakhstanโs grain exports boom - Grain Central https://t.co/ImhxLpVcHI
<![CDATA[
<script async="async" src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>]]> RT @Agridome: China Shows Up For US Corn, thx โฆ@ToddHultman1โฉ https://t.co/RUgaMuO7a7
<![CDATA[
<script async="async" src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>]]> RT @Reuters: The Chicago River was dyed green as part of an annual tradition to mark St. Patrick's Day holiday. The tradition dates back to 1962 https://t.co/yrAA53sFfl
<![CDATA[
<script async="async" src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>]]> RT @Reuters: ICYMI: Bachevo, a small village in southwest Bulgaria, has a unique way of celebrating the start of Lent https://t.co/5QewysTgmC
<![CDATA[
<script async="async" src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>]]> RT @SuccessfulFarm: โI think weโve got to develop a new game. A game where farmers can not only raise crops and sell them, and raise livestock and sell them, and get government payments, but they can get other ways to make money from the same landmass.โ https://t.co/VeGuL26AN4
<![CDATA[
<script async="async" src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>]]> RT @JonErlichman: RIM was founded this day in 1984. Its flagship product, the Blackberry, was created 15 years later in 1999. https://t.co/XEfnlSTR6M
<![CDATA[
<script async="async" src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>]]> RT @Agricomp: What happens when the big boys shows up in the morning #soybeans ๐๐๐ https://t.co/BvgE3E7YWF
<![CDATA[
<script async="async" src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>]]> RT @fasc1nate: GPS tracking on six wolf packs shows how much they avoid each other's territory. https://t.co/xUyJULtAlX https://t.co/iQwH4tcLqH
<< home
Both bar charts and candlestick charts are commonly used tools in technical analysis to visually represent price movements in financial markets. They both display the same type of information (open, high, low, and close prices) but do so in slightly different ways. The choice between bar charts and candlestick charts often comes down to personal preference and the type of information a trader wants to emphasize.
In a bar chart, each price interval (such as a day or an hour) is represented by a vertical line and two horizontal ticks. The top tick represents the highest price during that interval, the bottom tick represents the lowest price, and the vertical line connects the opening price on the left and the closing price on the right.
Candlestick charts also display the same open, high, low, and close prices, but they do so in a more visually distinct way. Each interval is represented by a rectangular "candlestick." The top and bottom of the candlestick represent the high and low prices, and the body of the candlestick (the rectangle) represents the difference between the opening and closing prices. If the closing price is higher than the opening price, the body is typically filled or colored. If the opening price is higher than the closing price, the body is usually left blank or colored differently.
Bar charts are often preferred by commodity or grain futures traders for a few reasons:
Bar charts can be less visually cluttered, making it easier for traders to focus on the key price points (open, high, low, and close) without the additional visual elements that candlestick charts introduce.
Bar charts provide a clear representation of price ranges between the open, high, low, and close, making it straightforward for traders to compare price movements across different time intervals.
Bar charts have been used in commodity and grain markets for a long time, contributing to their continued popularity and familiarity among traders in these markets.
I feel that the simplicity of bar charts help avoid potential biases introduced by the visual patterns and formations that can be associated with candlestick charts and, that's why, I prefer bars before candles.
|
old wheat futures chart, showing the simplicity of it
|
I've just revamped my blogger design with some friendlier night colours as well as making it look like a vintage computer monitor.
Trading goes on.
Wheat: Wheat futures opened higher on Tuesday, with Chicago Board of Trade July futures up 10 cents at $10.73 a bushel. The market is supported by concerns about tight global supplies, as the war in Ukraine has disrupted exports from one of the world's largest wheat producers.
Corn: Corn futures also opened higher on Tuesday, with CBOT July futures up 4 cents at $7.70 a bushel. The market is supported by concerns about dry weather in the U.S. Midwest, which could hurt yields.
Soybeans: Soybean futures opened lower on Tuesday, with CBOT July futures down 1 cent at $16.72 a bushel. The market is pressured by concerns about demand, as China has been buying less soybeans in recent months.
Overall, the grain futures market is mixed on Tuesday, with wheat and corn supported by concerns about tight supplies, while soybeans are pressured by concerns about demand.
Here are some additional factors that could impact the grain futures market in the near term:
Weather: Dry weather in the U.S. Midwest could hurt corn and soybean yields.
War in Ukraine: The war in Ukraine could continue to disrupt global grain exports.
Demand: China's demand for soybeans could continue to be weak.
I got acquainted to backshifting movement some ten or more years ago. It started with people choosing a rather more simple way of life, detaching from technology and going analogue. Sometimes, it would be just moving from cities to smaller places as villages or remote houses. Sometimes, it would be going for a minimalist home, giving away all unnecessary objects from your life. Later on, I started thinking about how unnecessary is the centralized way of life, mind and governance.
During that time, me and my family decided to start occasionally visiting my grandparents' house, located in a small Bulgarian village. Back then it was returning to my roots, a process of learning or reinventing things forgotten from childhood. It was good to spend time outdoors in the yard of my grandfather's house, working on the soil and with the soil, learning to cultivate land and seed. There was a well in the yard of the house and it brought to my mind the idea how a family, living in the very same house, could be self-sustainable and not dependent on the centralized water supply system. There are many other ways of getting water, for example, from not centralized source but on your own -- collecting rainfall water, storing and distributing among small community members. The same thing can be applied to all aspects of life so that we get detached from the central overlord and rely on our own efforts, local communities, families and friends.
This is backshifting - realizing that returning back is going forward, choosing smaller, means going bigger and understanding whole picture. Smaller societies, smaller organizations or smaller companies prove to be rather more peaceful, creative, self-sustainable as well as less aggressive and evil. The power of bigger unity corrupts and gives false feeling of impunity. The bad thing is that our society got built either naturally or synthetically, I don't know, over one center of power during time and history, developing all its relations by delegating to this overlord the right to decide for everyone within. The good thing is that decentralization is sneaking in from our past and history or better to say pre-history with societies and individuals helping each other survive in harsh environment; it is sneaking in now through such achievements as peer-to-peer information exchange, cryptography and blockchain. Technology is not bad, it is good, but in bad hands it is bad. If technology is very centralized it becomes evil. If it is decentralized, it belongs to everyone and it is good.
<![CDATA[
<script async="async" src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>]]> RT @GrainStats: Events in the Corn Market๐ฝ Colorized, 2023 https://t.co/9psg6goFJu
<![CDATA[
<script async="async" src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>]]> Women-Led Punk Bands - https://t.co/MUdzlILGLY #punk
<![CDATA[
<script async="async" src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>]]> RT @cer_hedge: #corn #ck3 spot corn-- Almost 50 cent rally since the low at $6.07- Hitting the 62% overnight. Probably just a coincidence.. #fibonacci- he's dead 750 years but still slinging size in the grains. #oatt https://t.co/cZ6Ha8KbVj
<![CDATA[
<script async="async" src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>]]> I just posted "HP iPAQ 514 Voice Messenger Windows Mobile 6" on Reddit https://t.co/fLqwSxSgPm
<![CDATA[
<script async="async" src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>]]> RT @JamesMelville: France ๐ซ๐ท A clip that has not been shown on the vast majority of our mainstream broadcast media. The police get stuck into the protesters in Paris. #FranceProtests #Paris https://t.co/eSJwnZOllk
<![CDATA[
<script async="async" src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>]]> Disguising solar panels as ancient Roman tiles in Pompeii https://t.co/evq6YOlheu #solarpunk #sustainable #sustainability
<![CDATA[
<script async="async" src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>]]> How this weekโs #USDA report could impact profits https://t.co/BK6sGUMWF9 #grains #corn #wheat #soybeans #futures #trading #mkt #farm
<![CDATA[
<script async="async" src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>]]> RT @MidwestMarkets: Texas #corn planting is 52% complete vs. 45% on average.#oatt
<![CDATA[
<script async="async" src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>]]> RT @WorldAndScience: Fascinating: pebbles on the surface Mars (viewed by the Curiosity rover) (Credit: NASA/JPL-Caltech/MSSS/Kevin M. Gill) https://t.co/mWGogCh20v
<![CDATA[
<script async="async" src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>]]> RT @GrainStats: ๐ฝFood Propaganda ๐งต A thread of posters mostly created during the War era in the United States weaponizing agriculture to win the war. Fitting for the times https://t.co/BE4tKvOhDq
<![CDATA[
<script async="async" src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>]]> RT @MissTrade: US National Debt โ A Different Perspective | https://t.co/hSHOoXl2My https://t.co/GVfg52Sjy3
<![CDATA[
<script async="async" src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>]]> RT @NatlFarmers: Outside #markets are commodity mixed, US dollar is lower (positive for exports), #metals higher (inflation guide), #energies are lower (petro grains) and equities are slightly higher
<![CDATA[
<script async="async" src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>]]> RT @SolarpunkNomads: GM friends! The official results from #gitcoin Alpha Round are out ๐๐ We are stocked to confirm that we have been the 5th more supported project in the Climate Solutions round. We feel humbled and grateful for your amazing support ๐๐ฅฒ https://t.co/D8rFZbVSdy
<![CDATA[
<script async="async" src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>]]> RT @Wizbit_io: "Be tolerant with others and strict with yourself." - Marcus Aurelius
<![CDATA[
<script async="async" src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>]]> RT @Reuters: India should keep lid on wheat exports to replenish local stocks - flour millers https://t.co/JvXexXGIpL https://t.co/jAYxGQ0i73
<![CDATA[
<script async="async" src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>]]> RT @NatlFarmers: Money managers halved their bullish bets across U.S. #grain and oilseed futures and options in the last week of February - shedding a record 265k contracts from their combined net long across #corn, #wheat, #soybeans, and soy products.
<![CDATA[
<script async="async" src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>]]> Production recovery sees Kazakhstanโs grain exports boom - Grain Central https://t.co/ImhxLpVcHI
<![CDATA[
<script async="async" src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>]]> RT @Agridome: China Shows Up For US Corn, thx โฆ@ToddHultman1โฉ https://t.co/RUgaMuO7a7
<![CDATA[
<script async="async" src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>]]> RT @Reuters: The Chicago River was dyed green as part of an annual tradition to mark St. Patrick's Day holiday. The tradition dates back to 1962 https://t.co/yrAA53sFfl
<![CDATA[
<script async="async" src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>]]> RT @Reuters: ICYMI: Bachevo, a small village in southwest Bulgaria, has a unique way of celebrating the start of Lent https://t.co/5QewysTgmC
<![CDATA[
<script async="async" src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>]]> RT @SuccessfulFarm: โI think weโve got to develop a new game. A game where farmers can not only raise crops and sell them, and raise livestock and sell them, and get government payments, but they can get other ways to make money from the same landmass.โ https://t.co/VeGuL26AN4
<![CDATA[
<script async="async" src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>]]> RT @JonErlichman: RIM was founded this day in 1984. Its flagship product, the Blackberry, was created 15 years later in 1999. https://t.co/XEfnlSTR6M
<![CDATA[
<script async="async" src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>]]> RT @Agricomp: What happens when the big boys shows up in the morning #soybeans ๐๐๐ https://t.co/BvgE3E7YWF
<![CDATA[
<script async="async" src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>]]> RT @fasc1nate: GPS tracking on six wolf packs shows how much they avoid each other's territory. https://t.co/xUyJULtAlX https://t.co/iQwH4tcLqH
<< home
