First thing you need to understand are candles. Candles make up charts. Each candle is a specific unit in time. Charting tools such as Trading View allow you to view candles for many timeframes. You can look at a candle on the weekly, daily, 4 hour, 1 hour, 30 minute, 15 min, 5 min, etc etc.
The structure of a candle tells you data on what happened to price during the formation of the candle. No matter the time frame, candles look the same. Here is the structure of a candle. The green (Bull) candle represents price going up during that time period and a red (Bear) one represents price going lower during that time period.
- Open — The price at which a candle opens during its forming period (it is also where the previous candle closed)
- High — The top of the candle, which is the highest point of price during that period
- Low — The bottom of the candle, which is the lowest point of price during that period
- Close — the last price at which a candle is traded during its forming period