support level and price is heading down to it and at the same time, that support level is coinciding with an upward trendline What does this mean? One part of the theory is that the market price discounts everything. Longer wicks indicate increase change in market sentiment: What is the Significance of Candlestick Wicks? Market noise is simply all the price data that distorts the picture of the underlying trend this is mostly due to small price corrections as well as volatility.
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You cant predict with 100 accuracy where the market will go next. Can you see how the need for using other indicators is diminished once you understand how easy is to spot such trading setups like these? Yes, I know thatThe whole point of me switching to lower timeframes is this: to get better trade entries. What about the length of the body of candlesticks? When you use price action trading with one other indicator or a combination of indicators which are incorporated into your trading system then thats what I call Not-So-Pure Price Action Trading. Thats how simple it is to draw Fibonacci retracement levels on your charts. When I see spinning tops form on support or resistance levels, all it tells me the bears and bulls do not really know where to push the market and so when a breakout of the low or high of a spinning top by the next. The word used to describe such a situation is momentum. If the demand is more, price increases as more traders start buying and driving prices. Surprisingly, it was.8. The low is the lowest price that was reached during that time period. When you see this in a downtred or in an area of support, take note because the market may be heading up and this is your signal to buy.
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