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...International journal of finance and managerial accounting vol no autumn analyzing the effectiveness candlestick technical trading strategies in foreign exchange market seyyed behshad yassini ph d student department financial management science research branch islamic azad university tehran iran fereydoon rahnamay roodposhti professor faculty member corresponding author f rahnamayroudposhti srbiau ac ir mir feiz fallahshams assistant central abstract charts are a type chart for tracking movement securities some earliest analysis was used to track prices rice th century investors find them more visually appealing than standard bar price actions easier interpret pattern is shown graphically on that believe can predict particular this paper it analyzed whether various patterns trends first group minor hypotheses include candle with an inverted color proceed by these second analyze profit after significantly profitable three open candles considered as different possible stop points have re...