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Candlestick Trading Secrets Revealed! Must-Read for Beginners
In the world of financial investment, the Candlestick chart is the key to opening the door to wealth. Today, let's uncover the essence of Candlestick trading to help you advance from a novice!
📈 Basics of Candlestick: Understanding the Market Language
Candlestick, composed of real body and wicks, is an intuitive reflection of market sentiment and trend. A white candle represents an uptrend, while a black candle represents the opposite. The length of the body indicates the strength of price fluctuations, and the wicks reveal intraday resistance and support levels. Mastering these basics enables you to understand the 'language' of the market.
🔍 Large-scale Candlestick: Grasp the market pulse
Monthly, weekly, and daily Candlestick charts are the compass on the investment journey. They reveal the general direction of the market. By observing the daily chart, if each bottom and top of the Candlestick is higher than the previous one, it indicates an upward trend; otherwise, it indicates a downward trend. Long positions should be taken in an uptrend, and caution should be exercised in a downtrend. In addition, by observing patterns such as head and shoulders bottoms, double bottoms, etc., trend reversals can be anticipated to capture major market movements.
📉 Small-scale Candlestick: a precise tool for entering the market
Lower-level Candlestick, such as 15-minute, 30-minute charts, help you find the best entry points. After the major trend is confirmed, observe lower-level Candlestick charts to look for reversal signals near important moving averages, such as hammer patterns, morning stars, etc., and enter decisively. Lower-level Candlestick charts allow you to more accurately grasp price fluctuations, improving the risk-return ratio of trades.
📊 Technical Indicators: Auxiliary Judgment Artifact
Combining Candlestick with technical indicators can greatly enhance their power. Moving average indicators help you judge price trends and average costs; MACD indicators further confirm trends through the crossover and divergence of the DIF and DEA lines. For example, if Candlestick forms a new high but MACD does not synchronize to form a new high, it may indicate a potential bearish divergence, suggesting that prices are about to fall.
💡 Mindset and discipline: Key to success
When trading Candlestick, mindset and discipline are crucial. Set stop-loss and take-profit levels to avoid overconfidence and panic selling. Maintain a calm mindset, do not be affected by short-term fluctuations, and stick to the trading strategy.
Candlestick trading skills require continuous learning and practice. May you find the wealth code in the Candlestick world and embark on the road to investment success!