🥊Candle "Wicks" have their own story to tell🥊
@ every timeframe, its like a boxing match between the buyers and sellers.
Candle Body (🟩/🟥) tells who won the round
What about the Wicks?
They do tell a story.. read on..
#StockMarket #sharemarket
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LONG LOWER SHADOWS and HAMMERS
- The sellers are pushing the buyers hard or the buyers play a waiting game and eventually power the price higher
See the chart below, the buyers are not willing to lose and eventually the sellers give up.
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LONG UPPER SHADOWS and SHOOTING STARS
- The buyers unable to keep the price higher for long and eventually give up.
See the chart below, the sellers strength is too much for the bulls
Some cases the sellers prevent from price going higher.. this is evident from the wicks
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HEIKIN ASHI CANDLES
HA candles do a good job at identifying indecision and unanimous movement of a counter
HA range candles give us the places where
- we should avoid direction trades
- prepare for a directional move
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WICKS FOR STOCK PICKING
A glance of a stock tells us about the volatility of the stock
If most of the candles have wicks then the counter is volatile in that time frame
SL hits are common
Look for stocks that have proportionate wicks if you are a conservative trader
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