On the other hand, if the closing price is below the opening price of an asset then a bearish candlestick will form. When the closing price of a currency or asset is greater than the opening price then a bullish candlestick is formed. What is momentum in a candlestick’s body?Ĭandlestick momentum represents the power of buyers or sellers of the market. It is necessary to analyze the currency technically. Wick of the candlestick is used to indicate the high and low price of the market. It also indicates the power of buyers or sellers. The body is used to indicate the opening and closing price of the market. For a retail trader to technically analyze the market, reading the closing and opening price of the market is a very important part.Ī candlestick consists of two elements combined together Candlestick is a chart type that shows real- time opening, closing, high and low price values in a specific time interval.
0 Comments
Leave a Reply. |