Reading and Utilizing Candlestick for Entry

Candlestick is a method that has been widely used by traders as an analysis in trading. Traders need to know the big picture how to read candlesticks, because each candle is able to inform the price structure, the strength of the dynamic trend of buyers versus sellers, and the projected direction of the price will move later.

Being able to read charts is the most basic technical analysis skill that a trader must master. By learning how to read candlesticks thoroughly, traders will sharpen their analytical skills. Without reading the candlesticks well, traders will find it difficult to read movements that have the potential to occur in the future. This is how to read candlesticks more simply and accurately. Perform analysis on the following four elements:

Body size

Through the size of the candlestick body, traders can get information about the strength of each party. If the body is elongated, it means that the momentum is strengthening. However, if the body shrinks, then the momentum is also getting slower.

Axis Length

The length of the wick or tail of a candlestick is related to price volatility. The long wick indicates the price is moving fast for the duration of the cadlestick, but getting rejected due to resistance.

Watch the video below for more complete and detailed information!


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