In the first part of the post, we looked at Equal open and close, Doji patterns. In today’s post, we will discuss Short body candles.
Short body candles.
Long Shadow candles:
Long shadows are one of the more reliable candlestick patterns.
Candles with a long top shadow and short lower shadow show us that buyers dominate the market, these can lead to or continue a bull run in prices.
On the other end.
Candles with a long lower shadow and short upper shadow show us that sellers dominate the market and these candles can lead to or continue a bear run in prices.
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WHILE everyone is used to seeing the conventional line charts found in everyday life, the candlestick chart is a chart variant that has been used for around 300 years and discloses more information than your conventional line chart.
The candlestick is a thin vertical line showing the period’s trading range.
A wide bar on the vertical line illustrates the difference between the open and close.
Note: The daily candlestick line contains the currency’s value at open, high, low and close of a specific day.
The candlestick has a wide part, which is called the “real body“.
This real body represents the range between the open and close of that day’s trading.
When the real body is filled in or black, it means the close was lower than the open.
If the real body is empty, it means the opposite: the close was higher than the open.
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