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Author Topic: Every candle tells a story  (Read 138 times)
Zilon
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January 28, 2021, 06:19:18 PM
Merited by CryptopreneurBrainboss (1), so98nn (1)
 #1

Price action plays a major role in bitcoin trading as it analyzes the movement of price over a given period of time. Has this price actions are formed candle sticks are been generated which aid in the interpretation of market analysis. Every candle formed tells a story about price action. Paying close attention on the story can yield profit both in bullish and bearish markets.

This story is not independent of itself because each candle stick tells its own story in which when combined can form a trend to which traders and investors can place buying or selling orders based on the analysis gotten from the story told by a particular price action.

When trading try to relate to each story told by both the bearish and bullish market

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January 28, 2021, 09:24:09 PM
 #2

Yeah it's possible to analyse based on candles what's going to happen next but I'm not sure whether for bitcoin it's so accurate unless you stick to analysing just one timeframe of candles. For example there are technical analysis patterns involving candles but finding 3 candles that are red on one timeframe might be 6 on another...

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January 28, 2021, 09:36:38 PM
 #3


For example there are technical analysis patterns involving candles but finding 3 candles that are red on one timeframe might be 6 on another...

Candlesticks do tell stories and give direction of market. While learning about trade I use to rely on candles.  They tell stories either for support or resistance especially when the same patterns are formed, they certainly tell a story. A longer time formation of candle sticks that appear repeatedly is a good sign if well interpreted.

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January 28, 2021, 10:30:14 PM
 #4

I am not thinking anything that candles in the chart has their own story in it. But I had no doubt that it gave me
an idea of when to buy and sell, depending on the coins I trade in the exchange. Through this tools in trading
activity we could possibly gain and we can also be able not to gain it as well, just simple as that.

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January 29, 2021, 02:07:17 AM
 #5

Not that aware before that candles represents price action until I became  a margin trader and find some interesting video explaining how those price moves and showed in a candle sticks. Yeah, they have respective stories and if long green or red are strong there are huge numbers of traders contributed to that whether many bought bitcoin or sell it.

It is actually useful in our trades because we tend to determine price movements and will eventually help us to decide the sell or long entry point with of course combining it with other tools.

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January 29, 2021, 03:11:56 AM
 #6

Price action plays a major role in bitcoin trading as it analyzes the movement of price over a given period of time. Has this price actions are formed candle sticks are been generated which aid in the interpretation of market analysis. Every candle formed tells a story about price action. Paying close attention on the story can yield profit both in bullish and bearish markets.

This story is not independent of itself because each candle stick tells its own story in which when combined can form a trend to which traders and investors can place buying or selling orders based on the analysis gotten from the story told by a particular price action.

When trading try to relate to each story told by both the bearish and bullish market
Charts, candles, price actions are nutrients for traders and they can not if they don't have chart, candles to watch and analyse. One more nutrient for traders are volume. It helps them to trace the past activities of participants in the market and predict the future price. Price can not move too much without dramatic movements from volume.

Candles, when you want to see streaks the Heishi Aikin candle can help you out.

Please don't use too many TA indicators as they only break your minds. Charts, candles, trend lines, and volume are enough to trade.

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January 29, 2021, 04:36:14 AM
 #7


When trading try to relate to each story told by both the bearish and bullish market
Knowing how to read the candle stick is very important in trading and you are right, it tells a story, and that it guides us a traders when to sell and when to buy. Not actually hard to understand this but of course, this also needs for us to analyze it.

I usually visualize the market trend base to candle stick, setting to 1 hr, in a week, you will know what is going on in the past days and might get some hints what is the possible incoming. Might be funny, but it sometimes does the counting.

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January 29, 2021, 05:33:54 AM
 #8

One candle says everything, and to confirm it you have to look for the second or third candle, and that can actually changes the price trend. In trading you have to appreciate those important things, like the price, candle and its volume. In stocks candle are important during the closing hour of the market, and over night trader do their own analysis. In cryptomarket, candles can also be use like that, though expect a more volatile one.

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January 29, 2021, 06:52:21 AM
 #9

Yup you are completely right about this. I liked the post since I have seen this candle stuff my own. I never read about candles or never studied them earlier professionally. But what I did is saw the change on my own while making trades. Mostly on bitcoin to INR market (local currency) where the future can be predicted whether the market would be selling next or buying the most. This has always helped me do some premature predictions in which I was able to prepare myself buy more bitcoin. Last weeks red candle helped me a lot to buy at different dipping prices. With today’s price it’s huge profit for me in my local currency.

So yeah, always look forward to the candles and learn future from it. 👍

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January 29, 2021, 08:16:05 AM
 #10

Yeah it's possible to analyse based on candles what's going to happen next but I'm not sure whether for bitcoin it's so accurate unless you stick to analysing just one timeframe of candles. For example there are technical analysis patterns involving candles but finding 3 candles that are red on one timeframe might be 6 on another...

Like BTC/DOGE candle yesterday was totally unreasonable for candle patterns. You see from nowhere all that crazy volume then crash, you expect stability but another huge candle to take Doge to ATH vs USD. Very hard to tell anything, a story for sure,,, but not a prediction in all that we can see in any case!

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January 29, 2021, 01:32:12 PM
 #11

The stories the candlesticks tell are basically important exclusively to Technical Analysis (TA) traders. They're traders who rely on indicators to monitor the market and sieve its noise. Fundamental Analysts don't give a hoot about the complexities. By indicators, I like to rely on leading indicators like S&R, Trendline and Pivots, gauging them by the candle patterns. I like looking out for Shooting Stars and Hammers/Reversal on long time frame. It's a great technique but needs patience to master

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January 29, 2021, 03:31:02 PM
 #12

Yup you are completely right about this. I liked the post since I have seen this candle stuff my own. I never read about candles or never studied them earlier professionally. But what I did is saw the change on my own while making trades. Mostly on bitcoin to INR market (local currency) where the future can be predicted whether the market would be selling next or buying the most. This has always helped me do some premature predictions in which I was able to prepare myself buy more bitcoin. Last weeks red candle helped me a lot to buy at different dipping prices. With today’s price it’s huge profit for me in my local currency.

So yeah, always look forward to the candles and learn future from it. 👍
Honestly I have been in crypto for many years now and I still do not know how to read charts that well, I can read not so badly but I can say that I am not good neither, it takes time and attention to learn it very well and I do not have that kind of care for it neither, I know it is very important but as a long term investor it doesn't matter to me, if the chart says it will go down I am buying anyway, if it says it will go up well I am still buying anyway.

So, I am just going to buy and keep buying and that's about it. Do not be worried, you are not alone. However learning to read each candle is a good thing, if you do that you are going to end up actually enjoying what you are doing and you will be capable of trading without losing too much, you will lose time to time anyway but you will learn how not to lose and how to imitate your losses.

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January 29, 2021, 03:39:38 PM
 #13

Yeah it's possible to analyse based on candles what's going to happen next but I'm not sure whether for bitcoin it's so accurate unless you stick to analysing just one timeframe of candles.
I completely agree.  You can get a general taste of where the next move of the market might be but when the markets are so volatile it is more difficult to predict this. Though, a candle is a candle and you are right there can be a lot of info one can derive from it, you just need the right skill set and of course, time.

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January 29, 2021, 10:38:00 PM
 #14

Yeah it's possible to analyse based on candles what's going to happen next but I'm not sure whether for bitcoin it's so accurate unless you stick to analysing just one timeframe of candles.
I completely agree.  You can get a general taste of where the next move of the market might be but when the markets are so volatile it is more difficult to predict this. Though, a candle is a candle and you are right there can be a lot of info one can derive from it, you just need the right skill set and of course, time.

Candle is a candle? I don't mean about it? Even though candles have many meanings when we trade, traders must know that candles are very useful for determining future price directions, do you have knowledge, friends, don't be careless, and about candles tell a story?
it is true, as I said, the candle will determine the direction.

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January 29, 2021, 10:58:19 PM
 #15

Yeah, at first, I'd never know its important role but as keep on trading, I realize that the candlestick is helping a lot.
There is no such better trick when trading but to able to read the candlestick. TA's has become a reliable source with the help of candlestick, this means that every trader must have to know about it to have a better trading result and so they can make their own TA's, not a wild guess.
If we are more exposed to trading, it was easier for us to understand it.

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January 29, 2021, 11:01:45 PM
 #16

Price action plays a major role in bitcoin trading as it analyzes the movement of price over a given period of time. Has this price actions are formed candle sticks are been generated which aid in the interpretation of market analysis. Every candle formed tells a story about price action. Paying close attention on the story can yield profit both in bullish and bearish markets.

This story is not independent of itself because each candle stick tells its own story in which when combined can form a trend to which traders and investors can place buying or selling orders based on the analysis gotten from the story told by a particular price action.

When trading try to relate to each story told by both the bearish and bullish market

Okay lets put up some link for people to see on what those candlesticks means.
https://www.ig.com/en/trading-strategies/16-candlestick-patterns-every-trader-should-know-180615

This do particularly talks or connects out with forex/stocks but since we are dealing on a market then these technical terms or legends will really be really helpful into one's
trading journey.Taking action will really varying on someones experience towards the market and the knowledge it does have not only basing off on fundamentals but
also in technicals as well.

When we do trade then these candles would really be part of it.Aside on plotting out lines then these are the things which do comes next to be in priority.
Making out action basing off on what you do currently see.

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January 30, 2021, 03:21:56 AM
 #17

When trading try to relate to each story told by both the bearish and bullish market

While this is true you should also have it at the back of your mind that this story told by the candles can be manipulated to suit the intentions of the whale controlling the market. While that of bitcoin is a little bit hard or complicated to execute, same can't be said about altcoins. They can make it seem like the sell trend is about to happen while exactly the opposite is what plays out as the trades goes on.

The market still has a long way to go, emotions are till making her way to the market with all the hype and fuds. With that in mind you shouldn't always rely on the candle, they aren't always reliable. You can look at some charts and won't be able to interpret correctly the story the charts are telling since they're been manipulated.





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January 30, 2021, 02:24:34 PM
 #18

Candles are not enough. You have to read volume bars to get a possibility of a trend.

After all, if you are in trading, you have to check the sell and buy walls. Those walls are set and manipulated by whales to make it as real as possible. Make you fear of loss (big sell walls) and force you to hope for rise (big buy walls). When you hope as you see big buy walls, you buy up the price and it will fall very quickly after you and others buy it up.

The opposite for big sell walls, after you sell, price recover strongly above that price.

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