๐๐จ๐ฅ๐๐๐ง๐๏ธ - ๐๐๐ง๐๐ฅ๐๐ฌ๐ญ๐ข๐๐ค ๐๐ญ๐ซ๐๐ง๐ ๐ก๐ญ
Candlesticks tell you more than whether price simply closed green or red, they reveal the battle between buyers and sellers, conviction, rejection, and momentum.
A large real body with limited wicks generally shows stronger directional control, while a small body with extended wicks signals hesitation and two-way pressure.
โก๏ธ A few advanced tips I use when reading candles:
โข Location > pattern. A reversal candle at major support/resistance carries far more weight than the same candle appearing mid-range.
โข Follow-through validates the signal. The next candle often tells you whether the original signal actually shifted control.
โข Study the close. Where price closes within the candleโs range can reveal who controlled the session into the bell.
โข Compare relative candle size. Expansion versus recent candles can signal increasing conviction; contraction can warn that momentum is fading.
โข Combine timeframes. A daily reversal becomes more meaningful when it aligns with weekly structure and momentum.
โข Never read candlesticks in isolation.
Combine them with trend structure, support/resistance, moving averages, volume and momentum.
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$TSLA
I just canโt get bullish on this chart right now.
Everything from more macro to micro is still in bearish structure.
I do believe the move here is a corrective one, but it will look best if it either takes out 360 and recovers same day or makes one more low, but doesnโt take out 360 (360 sweep would be best).
Either one of those happen, and Iโll load up, but with some clear stops.
I think itโs just a question of when, not if, $SPCX buys it.
1) I have a lot of sympathy for govโt employees: I, too, have not checked my email for the past few (hundred) days
And I can confirm that being unemployed is a lot less relaxing than it looks