Here is another example of how the high and low for high wave candles are usually trade-able support and resistance levels. I think the chart explains it all.
When spotting a long legged candle(long shadows) its important to keep an eye on the high and low of the candle as potential key levels of resistance and support. In many cases those levels act as barriers for the price action and could provide good trading signals if accompanied with other technical analysis tools within your whole strategy.
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My best regards
Technician
When spotting a long legged candle(long shadows) its important to keep an eye on the high and low of the candle as potential key levels of resistance and support. In many cases those levels act as barriers for the price action and could provide good trading signals if accompanied with other technical analysis tools within your whole strategy.
Exclusively Subscribers to my mailing list will get one month access to my trading account . subscribe here thefxchannel.com/ ,
My best regards
Technician