Does the color of the candle matter? Is it always right?
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@Multibagger the color shows you what the start and end price of the candle was. With "red" the "start price" was higher than at the end, i.e. the price fell in this time frame.
But in principle, long "wicks" are an indicator - if you have a long "wick" above the body, there is seller pressure, if the long wick is below, there is buyer pressure in this time frame.
I mean, the situation in the market can turn around quickly, it's always the whole picture that counts - the candles before that, what about the VWAP? If such a candle appears at resistance or support, then the probability increases - and that's what trading is all about - nobody has a crystal ball - but the chart follows a certain market logic.
I took a bit of risk today and went in with half a position size (3 units) - if it goes my way, I can add to the position. I'm on vacation for two and a half weeks starting Thursday, so I won't be trading much.
But in principle, long "wicks" are an indicator - if you have a long "wick" above the body, there is seller pressure, if the long wick is below, there is buyer pressure in this time frame.
I mean, the situation in the market can turn around quickly, it's always the whole picture that counts - the candles before that, what about the VWAP? If such a candle appears at resistance or support, then the probability increases - and that's what trading is all about - nobody has a crystal ball - but the chart follows a certain market logic.
I took a bit of risk today and went in with half a position size (3 units) - if it goes my way, I can add to the position. I'm on vacation for two and a half weeks starting Thursday, so I won't be trading much.
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@Multibagger the scent of the candle is important. I recommend vanilla, it makes the women want it
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•@Multibagger the trade was closed again during the course of the day, I have added a short description to the post. Towards my exit, you can see a few such candles with a long wick on the upper side.
To be on the safe side, the profit was taken. If the area turns into support, I'll be back in. Then the game will start all over again 😁
To be on the safe side, the profit was taken. If the area turns into support, I'll be back in. Then the game will start all over again 😁
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•@TomTurboInvest sold too early, or did you go back in?
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•@Multibagger I'll wait and see - it has slumped to €1535 in the meantime - fortunately after my SL exit. Now I'll see whether this area around 1550 remains resistance or turns into support.
At the moment (16:38) it looks like a very dynamic breakout - nevertheless, I'm still waiting - let's see how it develops until the close of trading at 17:30. I would have liked to see the 1531€ around the VWAP again 🤷♂️
https://www.tradingview.com/x/jiKxVl1K/
Let's see where the next significant levels are. Let's see what happens around €1561 - there's plenty of room up to €1750. Better to miss a few € on the way up than to fall back again.
At the moment (16:38) it looks like a very dynamic breakout - nevertheless, I'm still waiting - let's see how it develops until the close of trading at 17:30. I would have liked to see the 1531€ around the VWAP again 🤷♂️
https://www.tradingview.com/x/jiKxVl1K/
Let's see where the next significant levels are. Let's see what happens around €1561 - there's plenty of room up to €1750. Better to miss a few € on the way up than to fall back again.
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@Multibagger I'm back in in the meantime, it's come back nicely. Now let's take a look 😁
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•@TomTurboInvest Good luck
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