Candle sticks Flashcards
long wicked candle
where the wick is sticking out (longer better)
inside bar candle
the high and low is contained in the previous candle which shows momentum lost
inside-bar price action
price failed to make a higher high (in up-trend) which shows momentum lost
long wicked price action
buyer try to push price higher but failed, causing the wick to stick out
how to use momentum candle
use “after” any kind of rejection candle (also known as confirmation)
multiple candle rejections
more than one wicked candle rejection of a level (the more rejections the bteer)
multiple candle rejections
more than one wick candle rejection of a level (the more rejections the better)
multiple candle rejections price action
shows price tried to push through the level over and over again but failed
double action trigger reversal
the combination of sellers closing their position and buyer opening new positions and making a reversal to occur
candlestick formation psychology
candlesticks can form at key levels as a result of profit-taking, new position opening, or a combination of both
shrinking candles
candle getting smaller and smaller as they approaching levels, showing momentum lost
candle color change
after conservative of one color candle, the color changes opposite showing momentum lost
how trade quality can be better
stack multiple candle pattern together
