Looking at this chart we see a lot of candle "wicks" pointing upwards.
As a new trader I had no idea what was going on because it takes some time reading candles to relate all the candles you see to what is happening in the market with actual trades.
Answer: These vertical wicks mean the price spiked over and over, but after each spike selling took place--people took profit each time and kept the actual closing price depressed.
Bonus: The very light line you see is the 50 MA, it has served as the driver for resistance and the price has "bounced" off this boundary.
Hope this helps you to step back and understand what is happening from a practical standpoint using candlesticks.
As a new trader I had no idea what was going on because it takes some time reading candles to relate all the candles you see to what is happening in the market with actual trades.
Answer: These vertical wicks mean the price spiked over and over, but after each spike selling took place--people took profit each time and kept the actual closing price depressed.
Bonus: The very light line you see is the 50 MA, it has served as the driver for resistance and the price has "bounced" off this boundary.
Hope this helps you to step back and understand what is happening from a practical standpoint using candlesticks.
