Fullmoonfever
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All good mate.Hi Fullmoonfever!
Thanks you for your explanation! It's US$. I only asked because it looked like that the day before:
View attachment 59052
It's from here:
I hadn't thought about the fact that the chart represents the very low trading on the OTC (152,358pcs so far). That certainly distorts it. Under the charts one can adjust many things that I have no idea about.
One of you once shared a simple guide about TA here and a hammer down was interpreted as bearish. But as I said it's the OTC and I only just thought about it when you asked about the currency.
I shouldn't bother with it as I obviously don't know how to deal with it and better read what you or others post from time to time.
Cheers!
cosors
Single candles and candle patterns can definitely reveal information, just it takes a bit more attention hence why I try look at other things but note doji as posted before.
For example from your snip.
The green and blue arrows are doji variations and like to see more spread and vol rather than smaller moves.
A couple are general doji where buyers and sellers kind of in equilibrium with a price push led higher then lower then closing near where it started.
One is a dragonfly doji, first green arrow from the left. Means price opened high, bears pushed down and bulls recovered to close where opened indicating possible strength. Where did SP go after that?
The last green arrow right can be a long legged doji if wicks are longer or stars if wicks shorter. Again indecision.
The orange arrow indicates a possible inverted hammer or shooting star.
Need wider chart context as inverted hammer bottom of downtrend is more bullish as bulls push price up, longer upper wick and bears try push down and close down.
If at top uptrend then becomes a shooting star and bearish bias.
As you can see, watching individual candles / patterns takes time and effort.
Why sometimes I find best to pick 3 or 4 candles / patterns you get to know pretty well and that perform well as a mkt indicator, bull or bear.
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