These are the truly reliable, no-nonsense storytellers of your trading chart. Unlike their fidgety, still-forming brethren (who are still deciding if they’re going to be a hero or a zero), a closed candlestick has made up its mind. It’s done with its drama for that specific time period. The opening act, the high point, the low point, and crucially, the grand finale (the closing price) are all set in stone. You can trust a closed candlestick; it’s already had its existential crisis and is now ready to share the definitive truth of its trading session, no more surprises!
First Things to Look For in the Chart
Alright, aspiring chart whisperers, gather ’round! When you first open a chart, it can feel like trying to understand a very chaotic, yet potentially profitable, alien language. But fear not! Here’s how we (the slightly sleep-deprived but ever-optimistic traders) typically start deciphering the market’s intentions:
Check the “Time Machine Setting” (Timeframe):
First things first, what timeframe are you on? Are you looking at a 1-minute chart (for those who enjoy panic attacks and rapid-fire decisions)? Or a daily chart (for the more Zen, “I have a life” type)? Or maybe a weekly (for the truly patient, who suspect money grows on trees, just very, very slowly)? This tells you if you’re about to analyze a quick market tantrum or a multi-year saga.
Spot the “Overall Vibe” (Trend):
Is the market strutting confidently uphill (uptrend – happy times!)? Is it doing the sad shuffle downhill (downtrend – maybe put on some melancholy music)? Or is it just awkwardly shuffling sideways in a small circle (consolidation – indecisive, probably needs a snack)? This is the “Is the party still on, or is everyone leaving?” check. Trading against a strong trend is like trying to push a giant boulder uphill with a spoon. Don’t do it.
Find the “Invisible Force Fields” (Key Support & Resistance Levels):
These are the magical lines where prices seem to hit an invisible wall and bounce back (resistance, the market’s bouncer) or find a comfy cushion and stop falling (support, the market’s therapist). We look for these because the market, bless its predictable heart, loves to revisit these spots. It’s like finding the hidden passages in a video game – super useful!
Read the “Latest Gossip” (Current Price Action & Candlesticks):
Zoom in on the last few candles. Is there a big green one screaming “BUY BUY BUY!” (usually right before it collapses)? Or a scary red one shouting “RUN FOR YOUR LIVES!” (usually before it skyrockets)? Are there tiny candles with long wicks, indicating indecision – like the market just shrugging its shoulders and saying, “Dunno, man. Flip a coin?”
Listen to the “Cheers & Boos” (Volume):
Volume is like the crowd’s reaction. If prices are soaring, but the volume is tiny, it’s like a standing ovation from three people – not very convincing. But if prices are plummeting with booming volume, it means everyone is really, really upset. High volume gives conviction to price moves. Low volume often means the market is just bored, probably scrolling through social media.
So, by quickly scanning these five things, you’re not just looking at a bunch of lines and colors; you’re getting a hilarious, sometimes terrifying, but ultimately informative summary of the market’s current mood swings and intentions. Happy deciphering!
💰Quotes:
“Enter the trade — then sit on your hands like a monk!”
“We don’t click and panic. We click and chill.”
“Traders who wait, get paid. Traders who fidget… donate!”
“We enter the trade, then do absolutely nothing like pros.”
“Let the market work. You’re not its boss.”
💰Normal Tone Slogans:
“Enter with a plan, then let the trade play out.”
“The work is in the setup — the result comes with patience.”
“We don’t babysit trades. We trust our edge.”
“Entry is action. Waiting is discipline.”
“After entry, emotion has no place — only patience.”
Conclusion/Sammanfattning
First Things We Look for in the Chart
- Is the current trend bullish or bearish?
2. Is the main trend bullish or bearish on selected timeframe?
3. Where is price now? where are the keylevels?
4. Are there any Price Action?
5. Are there any failed Price Action?
6. Is there evidence that the market is getting rid of buyers or sellers?
💰“The Power of the Trends”
Quotes:
“Let Price Tell the Story.”
“Price Never Lies – Everything Else Might.”
“Trade What You See, Not What You Think.”
“Candles Speak Louder Than Indicators.”
- “The Truth is in the Candles.”
1. “Only the Best Setups Reading”
In the dynamic world of financial trading, key levels are the unsung heroes of technical analysis. Think of them as crucial lines in the sand on a price chart – specific price points where an asset’s value has historically shown significant reaction. Whether acting as support (a floor preventing further falls) or resistance (a ceiling preventing further rises), these levels are where supply and demand typically battle it out. Understanding them is fundamental, as they offer traders powerful insights into potential price reversals, continuations, and strategic points for entering or exiting trades.
2.“Best Setups Vs Normal Setups! Charts”
In the dynamic world of financial trading, key levels are the unsung heroes of technical analysis. Think of them as crucial lines in the sand on a price chart – specific price points where an asset’s value has historically shown significant reaction. Whether acting as support (a floor preventing further falls) or resistance (a ceiling preventing further rises), these levels are where supply and demand typically battle it out. Understanding them is fundamental, as they offer traders powerful insights into potential price reversals, continuations, and strategic points for entering or exiting trades.