A candlestick depicts the battle between Bulls (buyers) and Bears (sellers) over a given time period. An analogy to this battle is made between two football teams, which we can also call the Bulls plus the Bears. The base (intra-session low) of a touchdown is represented by the candlestick for the Bears and the utmost effective (intra-session high) a touchdown for the Bulls.
The closer the close is always to the high, the closer the Bulls are to a touchdown. The closer the close is to your low, the closer the Bears are to a touchdown. While you will find numerous variants, I have actually narrowed the industry to 6 kinds of games (or candlesticks):
- Long candlesticks that are white that the Bulls managed the ball (trading) for all the game.
- Very long candlesticks being black colored that the Bears controlled the ball (trading) for all of the game.
- Tiny candlesticks indicate that neither united team could move the ball and prices completed about where they started.
- An extended reduced shadow indicates that the Bears controlled the ball for area of the game, but destroyed control by the conclusion while the Bulls made an comeback that is impressive.
- A long top shadow suggests that the Bulls managed the ball for element of the overall game, but destroyed control by the end therefore the Bears made an comeback that is impressive.
- A lengthy upper and lower shadow indicates that the both the Bears therefore the Bulls had their moments during the overall game, but neither could put the other away, leading to a standoff.
No comments:
Post a Comment