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Candlestick Pattern At Key Level
What is a Key Level A key level in trading is a significant price level where the price has historically reacted, either reversing or consolidating. These levels act as support or resistance, helping traders make informed decisions about entries, exits, and stop losses. key level are . 1. Support and Resistance 2.. Supply & Demand Zones 3. Moving Averages 4. Trendlines Best candle patterns 1. Long Wick Candle A long wick candle at a key level signals price rejection, meaning the market tried to move beyond that level but was pushed back by strong buying or selling pressure. Long Wick at Support (Bullish Reversal) A long wick candle has a…
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What Is a Candlestick Chart?
A candlestick chart is a tool used in financial analysis to show the highest, lowest, opening, and closing prices of a stock or other security for a specific time period. Each “candlestick” on the chart shows one time period, like a day or an hour, and visually represents how the price moved during that time. Components of a Candlestick Body: The thick part of the candlestick, which represents the range between the opening and closing prices. Wicks(Shadows): The thin lines above and below the body, indicating the highest and lowest prices during the period. Description Long Body: Indicates strong buying or selling pressure. A long green body shows strong buying…
