An Extremely Important Price Action - The Candle’s Wick - Forex James
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As a price action trader, I read and interpret the markets by looking at price. One particular price action which I look at is the long wick of a candle.
THE WICK OF A CANDLE TELLS A STORY.
Some may call it a kangaroo tail, a shadow, a hammer, shooting star or perhaps another term which are not widely used. But all of them convey the same story, which is: rejection, exhaustion and buying/selling pressure.
When used in conjuction with high probability turning points, a candle’s wick is one of the missing pieces that marks the trigger for me to enter into a trade.
As you can see from the excerpt of the documentary, the wick is the tail of the comet, and if you’re able to identify and ride it, you’ll make money. It is the footprint that’s left behind by the big boys.
How I use the candlestick’s wick in my trading:
Identify bias and turning points
Wait for the battle between the bulls and bears
Wait for a long wick candle
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The excerpt was taken from: https://www.youtube.com/watch?v=kHawmZbapjU
Title of documentary: Bulls and Bears
As a price action trader, I read and interpret the markets by looking at price. One particular price action which I look at is the long wick of a candle.
THE WICK OF A CANDLE TELLS A STORY.
Some may call it a kangaroo tail, a shadow, a hammer, shooting star or perhaps another term which are not widely used. But all of them convey the same story, which is: rejection, exhaustion and buying/selling pressure.
When used in conjuction with high probability turning points, a candle’s wick is one of the missing pieces that marks the trigger for me to enter into a trade.
As you can see from the excerpt of the documentary, the wick is the tail of the comet, and if you’re able to identify and ride it, you’ll make money. It is the footprint that’s left behind by the big boys.
How I use the candlestick’s wick in my trading:
Identify bias and turning points
Wait for the battle between the bulls and bears
Wait for a long wick candle
http://www.forexjames.com/
#forextradinglive
#forextradingstrategies
#forexforbeginners
#forextradingtutorial
#liveforextrades
#forextrading
#onlineforextrading
Subscribe to Our Channel
Youtube: https://www.youtube.com/channel/UC_XB8yKzMgtugR-5HPOqlLw
Connect with us on Social Media
Facebook: https://fb.me/forexjamestrader
Twitter: https://twitter.com/Fx_James_Trader
Instagram: https://www.instagram.com/forexjames/
The excerpt was taken from: https://www.youtube.com/watch?v=kHawmZbapjU
Title of documentary: Bulls and Bears
