GOOD vs BAD: SUPPORT ZONE ACCEPTANCE
BAD: Large upper wick. Price moved all the way down again after acceptance of support. This indicates weak acceptance among buyers. ✅
OK: Smaller upper wick. Larger bullish candle showing that price pushed higher after support zone acceptance. This indicates OK acceptance.
GOOD: No upper wick. Price pushed up after support zone acceptance and closed at the absolute top of the time period. This indicates strong acceptance.
A high-quality confirmation needs to be established before entering a trade based on support/resistance structure. The bullish confirmation candle needs to be looked at closer before deciding to enter a trade.
