The Basics of a CandleStick (for Beginners)
Candlesticks represent where price action opens and closes in a given time period.For example, when looking at a 1HR timeframe, each candle will represent 1HR of price action and also show where the opening and closing price of that hour was.
Green candles show buy pressure
Red candles show sell pressure.
The larger the candle, the more variance in price action.
Wicks are the thinner lines above and below candles that show where highs and lows of price action has reached during the timeframe of a candle.
Wicks on the upside represent the highest price it was traded for during that time.
Wicks on the downside represent the lowest price it was traded for during that time.
Keep in mind that these wicks can be on both the upside and downside of a candle at the same time.
Remember, the top wick is the highest the price was traded at, the bottom wick is the lowest that it was traded at.
_______________________
THIS IS PERSONALLY COPYRIGHTED MATERIAL.
No part of this book may be reproduced or used in any manner without written permission of the copyright owners except for the use of quotations in a book review.
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The Basics of a CandleStick (for Beginners)
Green candles show buy pressure
Red candles show sell pressure.
The larger the candle, the more variance in price action.
Wicks are the thinner lines above and below candles that show where highs and lows of price action has reached during the timeframe of a candle.
Wicks on the upside represent the highest price it was traded for during that time.
Wicks on the downside represent the lowest price it was traded for during that time.
Keep in mind that these wicks can be on both the upside and downside of a candle at the same time.
Remember, the top wick is the highest the price was traded at, the bottom wick is the lowest that it was traded at.
_______________________
THIS IS PERSONALLY COPYRIGHTED MATERIAL.
No part of this book may be reproduced or used in any manner without written permission of the copyright owners except for the use of quotations in a book review.
\
The Basics of a CandleStick (for Beginners)
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