Euro / U.S. DollarEducation
Trading Candles - Part 21
TUTORIAL
Today's candle was a very bullish candle. Looking at the anatomy of today's candle notice Close is above its Open indicating a bullish candle. The long lower Shadow of the Candle indicates a rejection of lower prices as buyers overcome the sellers. The candle also has a short upper shadow indicating little rejection of higher prices. Lastly, the candle Closed near its High indicating the buyers were firmly in control of the market by the end of the session. All these characteristics of the anatomy of the candle indicate today's session as very bullish.
TRADING
A trader holding a Long position should continue to hold its position. A trader who is not holding a Long position should not take a Long position. Taking a Long position now is high risk and is considered chasing the market. Traders who are in Short positions should get out of those trades now.
Today's candle was a very bullish candle. Looking at the anatomy of today's candle notice Close is above its Open indicating a bullish candle. The long lower Shadow of the Candle indicates a rejection of lower prices as buyers overcome the sellers. The candle also has a short upper shadow indicating little rejection of higher prices. Lastly, the candle Closed near its High indicating the buyers were firmly in control of the market by the end of the session. All these characteristics of the anatomy of the candle indicate today's session as very bullish.
TRADING
A trader holding a Long position should continue to hold its position. A trader who is not holding a Long position should not take a Long position. Taking a Long position now is high risk and is considered chasing the market. Traders who are in Short positions should get out of those trades now.
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