HOW TO READ CANDLESTICK POSITION



A candlestick form has a different meaning if it is in a different position. Therefore in order not to be fooled by a candlestick form, we will discuss the following candlestick analysis by position.
 

The doji candlestick
On a quiet market with the formation of a relatively flat chart, a doji is really showing that at that time the market was no passion, The energy is weak and a lot of traders who have not entered the market. So that the direction of the next candle is more determined by how many traders are entering the market. In these conditions we do not need to come into the market. We better wait until the emergence of a clear signal.
In the volatile conditions, a doji candle
formed after the long body describing that there are the blockage of candle power. The doji was mostly formed by the correction. Therefore the direction of the next candle will explode and form the candle with a long body again with  the same direction toward with  the candle body  before the doji formed

How to Read Candle Stick Position




The doji candlestick formed after the short body (spinning top) shows that when the market gets weaker and arguably reached its peak. And the start of the power reversal. So the next candlestick direction will opposite with candle before doji  formed.



How to Read Candle Stick Position













These may interest you:

Receive Updates Free

Comments
0 Comments