When a candlestick with a short body in the middle of two long wicks forms in the market this is indicative of a situation where neither the buyers nor the sellers have won for that time period as the market has closed relatively unchanged from where it opened. The upper and lower long wicks however tell us that both the buyers and the sellers had the upper hand at some point during the time period the candle represents. When you see this type of candlestick form after a runup or run down in the market it can be an indication of a pending reversal as the indescision in the market is representative of the buyers loosing momentum when this occurs after an uptrend and the sellers loosing momentum after a downtrend.
spinning top....what about the whirling dervish ??
ws and all other traders...a happy new year to you...rosh hashanah is on thursday
another very profitable and happy year to all
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ws and all other traders...a happy new year to you...rosh hashanah is on thursday
another very profitable and happy year to all