Simplified Approach to read Candlesticks -Easy Candles ~ Part 1

OIL

Introduction
⦿ Candles form the basis of chart creation and analysis.
⦿ A weak foundation can destabilise your entire structure. This thread will clarify and simplify your understanding of price candles.


I use two types of candles on charts:
1. Momentum/trending candles
2. Ranging/trading candles

Understanding these eliminates the need to memorize complex candle names (e.g., Marubozu, Harami bullish) cause every candlestick pattern is formed with combination of these 2 candels only.

Definitions:
⦿ Momentum candle: Body >50% of total size
⦿ Range candle: Body <50% of total size

Decode Momentum Candle
⦿ Only Buyers here - Clear Trend


Decode Range Candle
⦿ Both Buyers & Sellers here - No Trend
⦿ Indecision mode among participants.


⦿ Understand what major players did in the last candle to predict their next move.

⦿ Don't just memorise candle names; grasp the psychology behind them.

⦿ I'll share the levels of candle strength to elevate your candle reading.
♦️Stay tuned and follow for more educational
content.