CANDLESTICK CHARTING | December 1, 2017
Watch Your Tails
Long upper candlestick tails and long lower candlestick tails should never be ignored because they are often telling you something about the likely future price behavior. Too often we look at a chart just to see if price is going up or down, but successful chart reading is about much more than that. It is about cultivating the ability to interpret what the candles are telling you about the likely future direction of price. Candlestick tails, also called shadows, will often provide a warning that is usually best heeded.
by Stella Osoba, CMT
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