Understand the secrets of the "wick" in Japanese candles 🚀
Imagine that you are watching the market and seeing the daily price movement. Suddenly, the term "wick" appears in front of you! What is it? 🤔 Okay, see: The wick is the line that rises above or below the body of the chart candle. This line is not just decoration, it conveys a message: "Where did the price reach the highest and lowest points during the time period."
Want an example? If the wick is long below the candle, it means the market was under strong selling pressure, but traders got back in the game and bought until the price came back up. It's like a fierce battle between sellers and buyers! 💥💰 Some analysts believe that the long wick could be a "reversal signal", meaning that the market could change direction after this move.
Now we come to the "candles without wicks". These candles mean that the price movement was stable, neither going up nor down much. Of course, the strength of the body is what tells the story here.
Ok, why is it important to read Japanese candlestick charts? Because if you understand these charts, you will be able to analyze the market trend and price direction accurately! However, do not limit yourself to candlesticks, use other analysis tools and be professional in planning your steps. 🎯
If you are planning to enter the world of crypto or any financial market, you must understand that the "wick" is not just a line. It is the real fingerprint of the market's history. Pull yourself together and start developing your game in the market! 🌟
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