#b90x - DAY 18 - Technical Analysis 101 - Candlestick Shadows

b90x

#1

Today we introduce a simple concept in technical analysis called “shadows” or “wicks” of candles. These represent a powerful indicator of buying and selling pressure!

Take a watch and see how candlestick shadows and help you better understand the movement within the markets!

Leave a comment below or any questions you have!


Trying to learn the charts.. is this a Bearish Pennant?
#2


#3

Thanks. That looks great.
So much information to take. Need to watch it a few times this time.
Get ready for my questions :smiley:


#4

Closing price+ Bar size + Shadows up/down + length of shadows = Opportunities to buy/sell depending on continued movement.

When you say “continued movement”, how many bars roughly are you talking about before making buy/sell decision?


#5

Nice vid. Basic but still learned a thing or two :grinning:


#6

We will get to that when we add it all up. Still have to cover RSI and moving avg etc. building up to putting it all together! I watch for several days to get a better picture. Need more data


#7

Does all that applies to one hour trading, 30 minutes,…or it doesn’t matter(applies to all)


#8

Applies to all. Choosing the time window just increases data points


#9

Another good video :smiley: If this is day 18 my brain will have grown outside my cranium at day 90 :wink: thanks :smiley:


#10

Awesome, thanks !
I just’ve noticed that Bitfinex uses the tradingview for their charts


#11

This is great. Learning so much Peter. Thanks.

Just one question about candles. Why do the candles not always line up? Closing of one doesn’t always line up with the opening of the next. Most of the time, they line up but not always. Why is that?


#12

Anticipated selfie: Day 90!
So much knowledge!!!


#13

I will use this with day 17 for my next investing choice for sure.
Maybe it’s time to become a little bit more professional about my buys.


#14

Great vids, on question on wicks, you were saying it were buyers/sellers are willing to trade or is it actual trades made during that time period?

Thanks for your help, It’s a blessing!


#15

Candles represent actual trades. A Depth chart or order book shows the willingness. It indicates orders that have been placed. At times this can be deceiving because orders can be canceled any time before they are actually executed.


#16

Every day a new learning. Fascinating what people develop to put so much information into a such “small” space like a candle.


#17

When I started out I was using this cheat sheet, it definitely helps if you go through it and understand why the different candlesticks are bullish or bearish. Context is also extremely important and you should never rely on only one indicator.

Edit: I just saw that the next day covers some of these things…


#18

You’re a really good teacher


#19

Thank you! I try my best! Keep at it!


#20

Wow you actually respond to the community. #respect

Hey Peter I’m a bit confused when you say Seller’s dominated the session for red candles and Buyer’s dominated the session for green candles. When I think Seller’s I think they want to sell high and for Buyer’s they want to buy low.

How is it that a candle with a lower shadow is something indicative of a session dominated by Sellers?

What am I missing here? Thanks for your time.