Jess,
The most logical way to explain this candle is that the price tries to push down but fail and close high. As you can see that there is a long tail. A bit tricky. But sometimes, you have to observe how the candle is being formed. I will read this as no interest down candle.
The most logical way to explain this candle is that the price tries to push down but fail and close high. As you can see that there is a long tail. A bit tricky. But sometimes, you have to observe how the candle is being formed. I will read this as no interest down candle.
DislikedHi Spud,
I just made a review on the most quiet day of the week (21 Jan 13), and below is my points of view. The two PLs I take note is 3320 and 3305. Could you please help criticize whether my understanding does really make sense? I have a problem to fully understand candle 15 !!!
Candle (1): Price down, Volume pick. Determine the PL at 3320
Candle (2): Price up, Volume down. Confirm the 3320 PL
Candle (3): Price down, Volume down. Less interest in price moving down away from 3320
Candle (4): Price down, Volume up. Seeking a new PL 3310 or 3305.
Candle...Ignored
When in doubt, wait it out.