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Chapter 9, Part II. How to interpret different candlesticks? Page 4

Discussion in 'Complete Trading Education- Forex Military School' started by Sive Morten, Dec 15, 2013.

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  1. Sive Morten

    Sive Morten Special Consultant to the FPA

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    Commander in Pips: Now take a look at next picture – this is the reverse situation of white candles and it could be treated accordingly:

    The long upper shadow tells that initially buyers prevail and push price to the high (that is showed by the upper shadow), but due to some reason sellers with overwhelming power have stepped in and pushed buyers right back to the open price or even lower – so that market even has closed lower than open.

    [​IMG]

    Pipruit: Yes, I think I’ve got it. Commander and is it important the color of the body? Say, if this last candle was white instead?​

    Commander in Pips: Well, this will be another lesson. We will talk about it when we will discuss single candlestick patterns. There we will clarify that. But I think that this is enough for today.




    P.S. This lesson was written by Sive Morten, who has been working for a large European Bank since April of 2000, and is currently a supervisor of the bank's risk assessment department. Sive's knowledge of forex market and banking industry is vast and quite complete. If you have any specific questions about forex, banking industry, or any other financial instruments, please post them on the next page and Sive should answer soon.



    Note: FPA ranks are earned in the battles against scam, not in the classroom.
     
    Hamza Samiullah and fran alvarez like this.
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