{"id":18250,"date":"2025-07-16T10:29:42","date_gmt":"2025-07-16T10:29:42","guid":{"rendered":"https:\/\/trading-edge.live\/?page_id=18250"},"modified":"2025-07-16T10:42:17","modified_gmt":"2025-07-16T10:42:17","slug":"24-first-things-to-look-for-in-the-chart-real-copy-18217","status":"publish","type":"page","link":"https:\/\/trading-edge.live\/index.php\/24-first-things-to-look-for-in-the-chart-real-copy-18217\/","title":{"rendered":"24. First Things to Look For in the Chart real-[Copy #18217]"},"content":{"rendered":"\t\t
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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!<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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24. First Things to Look For in the Charts<\/h2>\t\t\t\t<\/div>\n\t\t\t\t
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When first approaching a chart to analyze market conditions and identify potential trading opportunities, a structured observation process is crucial. The initial focus should be on establishing the broad context and identifying the most impactful elements of price action.<\/p>

Here are the first things a professional typically looks for in the charts:<\/p>

  1. Timeframe Context:<\/b><\/p>

    • What it is:<\/b> Immediately identify the timeframe of the chart you are viewing (e.g., daily, weekly, 4-hour).<\/p><\/li>

    • Why it’s first:<\/b> This sets the strategic context. A setup on a 15-minute chart has a vastly different implication than one on a weekly chart. Many professionals start with higher timeframes (like daily or weekly) to understand the overriding trend before drilling down.<\/p><\/li><\/ul><\/li>

    • Overall Trend (Direction and Strength):<\/b><\/p>

      • What it is:<\/b> Is the market moving generally upwards (uptrend), downwards (downtrend), or sideways (ranging\/consolidation)? Assess the strength of this trend.<\/p><\/li>

      • Why it’s first:<\/b> Trading with the trend (the “path of least resistance”) significantly increases the probability of success. It’s often said, “The trend is your friend.” Visual cues include higher highs\/higher lows for uptrends, lower highs\/lower lows for downtrends, and horizontal price action for ranges. Moving averages can quickly confirm this.<\/p><\/li><\/ul><\/li>

      • Key Support and Resistance Levels:<\/b><\/p>

        • What it is:<\/b> Identify significant horizontal or diagonal price levels where the market has previously reversed, stalled, or shown strong reaction. These are often previous swing highs\/lows, pivot points, or psychological round numbers.<\/p><\/li>

        • Why it’s first:<\/b> These levels are battlegrounds where supply and demand are evident. They serve as potential turning points, targets, and critical zones for placing stop-loss orders. The market tends to respect these levels.<\/p><\/li><\/ul><\/li>

        • Current Price Action and Candlestick Formation:<\/b><\/p>

          • What it is:<\/b> Observe the current and most recent candlesticks. What are their sizes, body colors, and wick lengths? Are there any notable candlestick patterns forming (e.g., strong bullish\/bearish candles, dojis, engulfing patterns, hammers)?<\/p><\/li>

          • Why it’s first:<\/b> This tells you the immediate battle between buyers and sellers and can signal continuation, indecision, or potential reversal right at the current moment or near key levels.<\/p><\/li><\/ul><\/li>

          • Volume Confirmation:<\/b><\/p>

            • What it is:<\/b> Look at the volume accompanying recent price moves.<\/p><\/li>

            • Why it’s first:<\/b> Volume provides conviction. A strong price move (up or down) on high volume is generally more reliable than the same move on low volume, which might indicate a lack of widespread participation or interest.<\/p><\/li><\/ul><\/li><\/ol>

              By quickly scanning these five elements, a trader can rapidly form an initial assessment of the market’s condition, identify potential opportunities, and determine whether a deeper analysis is warranted.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t

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              \ud83d\udcb0Quotes:<\/h3>

              • “Enter the trade \u2014 then sit on your hands like a monk!”<\/strong><\/p><\/li>

              • “We don\u2019t click and panic. We click and chill.”<\/strong><\/p><\/li>

              • “Traders who wait, get paid. Traders who fidget\u2026 donate!”<\/strong><\/p><\/li>

              • “We enter the trade, then do absolutely nothing like pros.”<\/strong><\/p><\/li>

              • “Let the market work. You’re not its boss.”<\/strong><\/p><\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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                \ud83d\udcb0Normal Tone Slogans:<\/strong><\/h3>

                • “Enter with a plan, then let the trade play out.”<\/strong><\/p><\/li>

                • “The work is in the setup \u2014 the result comes with patience.”<\/strong><\/p><\/li>

                • “We don\u2019t babysit trades. We trust our edge.”<\/strong><\/p><\/li>

                • “Entry is action. Waiting is discipline.”<\/strong><\/p><\/li>

                • “After entry, emotion has no place \u2014 only patience.”<\/strong><\/p><\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t

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                  \ud83d\udcb0\u00a0Chart Analysis Slogans (Normal Tone):<\/h3>

                  • “Start with the trend \u2014 it sets the direction.”<\/strong><\/p><\/li>

                  • “Identify key support and resistance before anything else.”<\/strong><\/p><\/li>

                  • “Let structure guide your strategy.”<\/strong><\/p><\/li>

                  • “Always know where price has reacted before.”<\/strong><\/p><\/li>

                  • “The trend, levels, and price action tell the whole story.”<\/strong><\/p><\/li>

                  • “Look for clarity, not chaos.”<\/strong><\/p><\/li>

                  • “The chart reveals its plan \u2014 observe before acting.”<\/strong><\/p><\/li>

                  • “Good analysis starts with a clean, focused view.”<\/strong><\/p><\/li>

                  • “Respect the levels, trust the structure.”<\/strong><\/p><\/li>

                  • “Before every trade, understand the environment.”<\/strong><\/p><\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t

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                    \ud83d\udcb0Chart-Scanning Slogans:<\/h3>

                    • “Before you trade, check the stage!”<\/strong><\/p><\/li>

                    • “Trend first, trade later.”<\/strong><\/p><\/li>

                    • “No support? No entry. No resistance? No exit.”<\/strong><\/p><\/li>

                    • “Read the chart like it owes you money.”<\/strong><\/p><\/li>

                    • “If price is confused, so should you be \u2014 stay out!”<\/strong><\/p><\/li>

                    • “Look left before you get smacked right!”<\/strong><\/p><\/li>

                    • “No pattern? No party.”<\/strong><\/p><\/li>

                    • “Don\u2019t trade before checking the market\u2019s mood!”<\/strong><\/p><\/li>

                    • “The chart always speaks \u2014 if you\u2019re willing to listen.”<\/strong><\/p><\/li>

                    • “Zoom out, chill out, plan your route.”<\/strong><\/p><\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t

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                      \ud83d\udcb0First Things to Look for in a Chart<\/h3>

                      1. The Trend<\/strong>
                        \ud83d\udd0d Is the market trending up, down, or sideways?
                        \u2192 “Trade with the flow, not against it.”<\/em><\/p><\/li><\/ol>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t

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                        \ud83d\udcb0Support and Resistance Levels<\/span><\/h3>


                        <\/b>\ud83e\uddf1 Where has price reacted strongly in the past?
                        \u2192 “These are your map markers \u2014 respect them.”<\/em><\/p>

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                        \ud83d\udcb0<\/span>Key Candlestick Patterns<\/span><\/h3>


                        <\/b>\ud83d\udd6f Inside bars, pin bars, engulfing candles \u2014 any signals forming?
                        \u2192 “Candles tell stories. Learn their language.”<\/em><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t

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                        \ud83d\udcb0<\/span>Overall Market Condition<\/span><\/h3>


                        <\/b>\ud83c\udf0d Is the market volatile, quiet, ranging, or explosive?
                        \u2192 “Don\u2019t bring trend strategies to a choppy fight.”<\/em><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t

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                        \ud83d\udcb0<\/span>Event Areas \/ Reaction Zones<\/span><\/h3>

                        \u26a1 Where have big moves started or reversed before?
                        \u2192 “History loves to repeat \u2014 especially in loud places.”<\/em><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t

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                        \ud83d\udcb0<\/span>Con<\/span>fluence Zones<\/span><\/h3>

                        \u00a0\ud83c\udfaf Are multiple signals lining up (trend + support + pattern)?
                        \u2192 “When signals stack, so does your edge.”<\/em><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t

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                        \ud83d\udcb0\ud83d\udd0d <\/span>Market Structure & Direction (Trend)<\/strong><\/h3>

                        Ask yourself:<\/p>

                        \u2705 Is the market trending or ranging?
                        \u2705 Are we making higher highs\/lows (uptrend) or lower highs\/lows (downtrend)?
                        \u2705 Are we inside a sideways box (consolidation)?<\/p><\/blockquote>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t

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                        \ud83d\udcb0\ud83d\udcca Why This Comes First:<\/span><\/h3>

                        1. It defines the context<\/strong> for all your trades
                          \u2192 You don\u2019t want to go long in a downtrend or short in a strong uptrend.<\/p><\/li><\/ol>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t

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                          \ud83d\udcb0\ud83d\udcca Why This Comes First:<\/span><\/h3>

                          1. It defines the context<\/strong> for all your trades
                            \u2192 You don\u2019t want to go long in a downtrend or short in a strong uptrend.<\/p><\/li><\/ol>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t

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                            \ud83d\udcb0<\/span>It tells you what to expect<\/strong><\/h3>

                            \u2192 Trending = momentum setups.
                            \u2192 Ranging = reversal and breakout setups.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t

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                            \ud83d\udcb0<\/span>It saves time<\/strong><\/h3>

                            \u2192 No need to analyze further if there\u2019s no clean structure.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t

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                            \ud83d\udcb0<\/span>\ud83e\udde0 Pro Tip:<\/span><\/h3>

                            \u201cStructure first. Everything else second.\u201d<\/p><\/blockquote>

                            Once you see structure, then you can look for:<\/p>

                            • \ud83d\udccd Key levels (support\/resistance)<\/p><\/li>

                            • \ud83d\udd6f\ufe0f Price action signals (pin bars, engulfing)<\/p><\/li>

                            • \ud83d\udcc8 Confluence (EMA, RSI, Fib, etc.)<\/p><\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t

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                              https:\/\/www.youtube.com\/watch?v=XHOmBV4js_E 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! 24. First Things to Look For in the Charts When first approaching a chart to analyze market conditions and identify potential trading opportunities, a structured observation process is crucial. The initial focus should be on establishing the broad context and identifying the most impactful elements of price action. Here are the first things a professional typically looks for in the charts: Timeframe Context: What it is: Immediately identify the timeframe of the chart you are viewing (e.g., daily, weekly, 4-hour). Why it’s first: This sets the strategic context. A setup on a 15-minute chart has a vastly different implication than one on a weekly chart. Many professionals start with higher timeframes (like daily or weekly) to understand the overriding trend before drilling down. Overall Trend (Direction and Strength): What it is: Is the market moving generally upwards (uptrend), downwards (downtrend), or sideways (ranging\/consolidation)? Assess the strength of this trend. Why it’s first: Trading with the trend (the “path of least resistance”) significantly increases the probability of success. It’s often said, “The trend is your friend.” Visual cues include higher highs\/higher lows for uptrends, lower highs\/lower lows for downtrends, and horizontal price action for ranges. Moving averages can quickly confirm this. Key Support and Resistance Levels: What it is: Identify significant horizontal or diagonal price levels where the market has previously reversed, stalled, or shown strong reaction. These are often previous swing highs\/lows, pivot points, or psychological round numbers. Why it’s first: These levels are battlegrounds where supply and demand are evident. They serve as potential turning points, targets, and critical zones for placing stop-loss orders. The market tends to respect these levels. Current Price Action and Candlestick Formation: What it is: Observe the current and most recent candlesticks. What are their sizes, body colors, and wick lengths? Are there any notable candlestick patterns forming (e.g., strong bullish\/bearish candles, dojis, engulfing patterns, hammers)? Why it’s first: This tells you the immediate battle between buyers and sellers and can signal continuation, indecision, or potential reversal right at the current moment or near key levels. Volume Confirmation: What it is: Look at the volume accompanying recent price moves. Why it’s first: Volume provides conviction. A strong price move (up or down) on high volume is generally more reliable than the same move on low volume, which might indicate a lack of widespread participation or interest. By quickly scanning these five elements, a trader can rapidly form an initial assessment of the market’s condition, identify potential opportunities, and determine whether a deeper analysis is warranted. \ud83d\udcb0Quotes: “Enter the trade \u2014 then sit on your hands like a monk!” “We don\u2019t click and panic. We click and chill.” “Traders who wait, get paid. Traders who fidget\u2026 donate!” “We enter the trade, then do absolutely nothing like pros.” “Let the market work. You’re not its boss.” \ud83d\udcb0Normal Tone Slogans: “Enter with a plan, then let the trade play out.” “The work is in the setup \u2014 the result comes with patience.” “We don\u2019t babysit trades. We trust our edge.” “Entry is action. Waiting is discipline.” “After entry, emotion has no place \u2014 only patience.” \ud83d\udcb0\u00a0Chart Analysis Slogans (Normal Tone): “Start with the trend \u2014 it sets the direction.” “Identify key support and resistance before anything else.” “Let structure guide your strategy.” “Always know where price has reacted before.” “The trend, levels, and price action tell the whole story.” “Look for clarity, not chaos.” “The chart reveals its plan \u2014 observe before acting.” “Good analysis starts with a clean, focused view.” “Respect the levels, trust the structure.” “Before every trade, understand the environment.” \ud83d\udcb0Chart-Scanning Slogans: “Before you trade, check the stage!” “Trend first, trade later.” “No support? No entry. No resistance? No exit.” “Read the chart like it owes you money.” “If price is confused, so should you be \u2014 stay out!” “Look left before you get smacked right!” “No pattern? No party.” “Don\u2019t trade before checking the market\u2019s mood!” “The chart always speaks \u2014 if you\u2019re willing to listen.” “Zoom out, chill out, plan your route.” \ud83d\udcb0First Things to Look for in a Chart The Trend\ud83d\udd0d Is the market trending up, down, or sideways?\u2192 “Trade with the flow, not against it.” \ud83d\udcb0Support and Resistance Levels \ud83e\uddf1 Where has price reacted strongly in the past?\u2192 “These are your map markers \u2014 respect them.” \u00a0 \ud83d\udcb0Key Candlestick Patterns \ud83d\udd6f Inside bars, pin bars, engulfing candles \u2014 any signals forming?\u2192 “Candles tell stories. Learn their language.” \ud83d\udcb0Overall Market Condition \ud83c\udf0d Is the market volatile, quiet, ranging, or explosive?\u2192 “Don\u2019t bring trend strategies to a choppy fight.” \ud83d\udcb0Event Areas \/ Reaction Zones \u26a1 Where have big moves started or reversed before?\u2192 “History loves to repeat \u2014 especially in loud places.” \ud83d\udcb0Confluence Zones \u00a0\ud83c\udfaf Are multiple signals lining up (trend + support + pattern)?\u2192 “When signals stack, so does your edge.” \ud83d\udcb0\ud83d\udd0d Market Structure & Direction (Trend) Ask yourself: \u2705 Is the market trending or ranging?\u2705 Are we making higher highs\/lows (uptrend) or lower highs\/lows (downtrend)?\u2705 Are we inside a sideways box (consolidation)? \ud83d\udcb0\ud83d\udcca Why This Comes First: It defines the context for all your trades\u2192 You don\u2019t want to go long in a downtrend or short in a strong uptrend. \ud83d\udcb0\ud83d\udcca Why This Comes First: It defines the context for all your trades\u2192 You don\u2019t want to go long in a downtrend or short in a strong uptrend. \ud83d\udcb0It tells you what to expect \u2192 Trending = momentum setups.\u2192 Ranging<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"pmpro_default_level":"","_uag_custom_page_level_css":"","site-sidebar-layout":"no-sidebar","site-content-layout":"page-builder","ast-site-content-layout":"full-width-container","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"disabled","ast-breadcrumbs-content":"","ast-featured-img":"disabled","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"class_list":["post-18250","page","type-page","status-publish","hentry","pmpro-has-access"],"uagb_featured_image_src":{"full":false,"thumbnail":false,"medium":false,"medium_large":false,"large":false,"1536x1536":false,"2048x2048":false},"uagb_author_info":{"display_name":"gabbe112","author_link":"https:\/\/trading-edge.live\/index.php\/author\/gabbe112\/"},"uagb_comment_info":0,"uagb_excerpt":"https:\/\/www.youtube.com\/watch?v=XHOmBV4js_E 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,…","rttpg_featured_image_url":null,"rttpg_author":{"display_name":"gabbe112","author_link":"https:\/\/trading-edge.live\/index.php\/author\/gabbe112\/"},"rttpg_comment":0,"rttpg_category":null,"rttpg_excerpt":"https:\/\/www.youtube.com\/watch?v=XHOmBV4js_E 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,…","_links":{"self":[{"href":"https:\/\/trading-edge.live\/index.php\/wp-json\/wp\/v2\/pages\/18250","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/trading-edge.live\/index.php\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/trading-edge.live\/index.php\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/trading-edge.live\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/trading-edge.live\/index.php\/wp-json\/wp\/v2\/comments?post=18250"}],"version-history":[{"count":0,"href":"https:\/\/trading-edge.live\/index.php\/wp-json\/wp\/v2\/pages\/18250\/revisions"}],"wp:attachment":[{"href":"https:\/\/trading-edge.live\/index.php\/wp-json\/wp\/v2\/media?parent=18250"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}