Candlestick Shadow (hege) means Price Cancellation

Candlestick Shadow (hege) means Price Cancellation


Reader’s message


Are the wicks or tails as important as the body of the candle part.


Yes very important.

shadow (hege) means price cancellation.

long shadow (hege) was temporary long body.

But cancelled.

at that time many order traded.
and trader psychology changed.

shadow (hege) means cancel and change.


Trend lines and trend channels with candlestick
In Forex trading, it is always a noble idea to incorporate an indicator in your trading strategy.
That is why, although the candlestick trading is fundamental in Forex,
the trader can use trend lines and trend channels to assist him or her correctly identifying trading signals.

Trend lines are lines that the trader can draw along the previously formed candlesticks so as to assist him or her to identify the current trend.
The trend channels on the other hand, are channels (region between two lines) that the
trader can draw on the trading chart to assist in identifying trading signals.

The trend lines and the trend channels are provided in most trading platforms such as the MT4 platform.
Therefore, the trader only needs to click on their buttons and then click on the trading chart and align them as per the candlesticks.

NOTE: When drawing the trend lines and trend channels, the trader should always begin drawing from a previously formed candlestick

(point from which the trader wants to trace the current trend) towards the current forming candlestick.

Candlestick close complete then order