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Candlesticks

CandlesticksLesson 6 of 144 min read

Bullish but weak

An up candle with a long upper wick closed higher and still failed. Reading one properly.

Here is the first real read. An up candle with a long wick on top, and what it is telling you.

The shape

The candle is green, so it closed above its open. Above the body sits a long upper wick.

Price rose during the period, went further than the close, and came back down before the period ended.

Figure 1 · An up candle wicking into a level at 2,430 and closing at 2,412, above its open but well below the level

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