T2W Bot

Staff member
In this article, I decided to discuss a simple technique that is often overlooked when traders are reading charts. We are all too quick to look at the squiggly lines that we call indicators and oscillators and dismiss the simplest signal available to us which at the simplest level would be ‘PRICE!’ Price is most commonly displayed for most traders through candle charts. If you are not familiar with the construction of a candlestick, I have included a quick reference below. A green candle usually indicates strength in price and is formed by price closing higher than it opened during that particular time period. Conversely, the red candle indicates weakness due to the closing price being lower than the open for that period.

The problem is that many traders end their candle analysis there. You must look to see what the tails (wicks, shadows or whatever else you wish to call them) are telling you. These...

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