Technician
Education

Spotting Support & Resistance through Candles

FX:GBPNZD   British Pound / New Zealand Dollar
This is an example on the importance of the high/low of long-legged candles.

When spotting a long legged candle(long shadows) its important to keep an eye on the high and low of the candle as potential key levels of resistance and support. In many cases those levels act as barriers for the price action and could provide good trading signals if accompanied with other technical analysis tools within your whole strategy.


http://thefxchannel.com/ , visit.. vote and subscribe. Thank you
https://twitter.com/thefxchannel
My best regards
Technician
I teach my experience conclusions in 10+ trading strategies. PM me for details and cost.
These particular candles are called high wave candles according to Nison & Bulkowski.
Reply
Great. The one above is a long-legged doji in particular.
-1 Reply
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out