What's up guys it's been a while! I know it's the holiday seasons, and that's the best time of year for me. Here is a wonderful present for you all, as a token of my appreciation. Thankful for the supportive and hateful people, not equally of course! 🤣 Anyways.... the things you must keep in mind when utilizing candlestick analysis in your trading are the following, Gs:
1) Understanding the anatomy of a candlestick - images.ctfassets.net/8c2uto3zas3h/3MtHZp3LlMjGJQuhWuSpUe/fd69d69e5163c0e312664be7e44a3a7e/NAD_BlogInfographic_Candlesticks_Anatomy.png
2) Candlestick color - The color of the candles individually matter in structure but also together they tell a story.... three inside down candle stick pattern at a lower high point in market structure for example.
3) Size of the candle - size of candle does matter as it indicates how volatile and wide reaching the market can be that day based on this data.
4) Volume - This one is obvious, Gs.
5) Timeframe of candlesticks being observed - understand candlesticks on higher timeframe hold more weight so they're more valid. (1h+) in consolidated structure on higher timeframe, lower timeframe candlestick structure is what you need to identify breakouts that'll be big on HTF.
6) Candlestick patterns - content.stockstotrade.com/wp-content/uploads/2024/07/Candlestick-Cheat-Sheet.png
7) Length of wicks on the candles - This is huge because wicks are a direct indication of exhaustion, which BASICALLY is buyer or seller weakness which directly aids me in basically every trade when finding that sniper entry i'm known for! Do not sleep on this step (or any, for that matter, I don't make these for FUN.)
8) Support/Resistance levels - I recommend going to lower time frames in these areas and using steps 2, 3, 6 mixed with timeframe correlation to make a sniper entry. GOODLUCK Gs!
1) Understanding the anatomy of a candlestick - images.ctfassets.net/8c2uto3zas3h/3MtHZp3LlMjGJQuhWuSpUe/fd69d69e5163c0e312664be7e44a3a7e/NAD_BlogInfographic_Candlesticks_Anatomy.png
2) Candlestick color - The color of the candles individually matter in structure but also together they tell a story.... three inside down candle stick pattern at a lower high point in market structure for example.
3) Size of the candle - size of candle does matter as it indicates how volatile and wide reaching the market can be that day based on this data.
4) Volume - This one is obvious, Gs.
5) Timeframe of candlesticks being observed - understand candlesticks on higher timeframe hold more weight so they're more valid. (1h+) in consolidated structure on higher timeframe, lower timeframe candlestick structure is what you need to identify breakouts that'll be big on HTF.
6) Candlestick patterns - content.stockstotrade.com/wp-content/uploads/2024/07/Candlestick-Cheat-Sheet.png
7) Length of wicks on the candles - This is huge because wicks are a direct indication of exhaustion, which BASICALLY is buyer or seller weakness which directly aids me in basically every trade when finding that sniper entry i'm known for! Do not sleep on this step (or any, for that matter, I don't make these for FUN.)
8) Support/Resistance levels - I recommend going to lower time frames in these areas and using steps 2, 3, 6 mixed with timeframe correlation to make a sniper entry. GOODLUCK Gs!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.