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EDUCATION: Simplified Candlestick Psychology (Part 2)In the world of trading, candlesticks are more than just visual representations of price movements—they're windows into the psychology of the market. Every candlestick tells a story, and if you can learn to read it properly, you can understand the underlying emotions of buyers and sellers. Think of it like reading a book, where every candle is a chapter that contributes to the bigger narrative. In the previous video, we went over the anatomy of a candlestick and this time we dive into the psychology behind the Open, High, Low, and Close (OHLC) values on the chart. This way, you can read the market like you would a good book—predicting what might happen next based on what you've already learned. Anatomy of a Candlestick Before we dig into the psychology, let’s first look at the anatomy of a candlestick. A standard candlestick consists of four key components: the Open, High, Low, and Close (OHLC). These are the foundation for interpreting market sentiment. Open: This is where the price started during that specific time period. Close: This is where the price ended at the close of that period. High: This is the highest point the price reached during that time frame. Low: This is the lowest point the price reached. The body of the candle is the difference between the Open and Close. The wicks (or shadows) represent the range from the Low to the High. The bigger the body, the stronger the move in that direction. The longer the wicks, the more indecision and struggle between buyers and sellers. The Psychology Behind the OHLC Now, let’s break down the psychology behind each component of a candlestick. Every candle is a snapshot of the market’s emotion, so understanding the story behind each piece can help you predict future moves. The Open: The Open represents the first battle of the trading session. It shows where the price starts, and it often sets the tone for the rest of the candle. If the market opens higher than the previous candle’s close, it suggests bullish sentiment, while opening lower indicates a bearish sentiment. But don't just focus on the open; its relationship with the close is just as important. The Close: The Close is where the real battle is won or lost. It’s the final decision of the market—did the buyers or sellers win the battle? A close near the high of the candle suggests strong bullish sentiment, while a close near the low indicates bearish sentiment. A close near the open suggests indecision or equilibrium in the market. Traders often view the close as the most important part of a candlestick because it shows the prevailing market sentiment. The High and Low: These two points tell us about the price extremes during the trading period. A long upper wick suggests that the bulls tried to push the price higher but were met with strong selling pressure. A long lower wick shows that the bears pushed the price lower, but the buyers fought back to reclaim some of the losses. A candle with small wicks indicates that the market didn’t have much fluctuation, and the momentum was steady in one direction. The Body: The body of the candlestick is the most visual part, showing the range between the Open and Close. A large body indicates strong momentum and confidence in one direction. A small body, on the other hand, indicates indecision, where neither side has been able to dominate the market. Putting it All Together Now that we understand the anatomy and psychology behind the OHLC, it’s time to combine the elements and read the story. For example: Bullish Candlestick: If a candlestick has a long body with a close near the high and short wicks, it indicates that buyers were in control, and they finished strong. Bearish Candlestick: Conversely, a candlestick with a long body, close near the low, and short wicks shows that sellers were in control. Indecision: A candle with a small body and long wicks on both sides indicates indecision or a battle between buyers and sellers. The market isn’t sure where it wants to go yet. Candlesticks, when grouped together, create patterns that help us predict future price movements. For instance, a series of bullish candles could indicate strong upward momentum, while a few indecisive candles in a row might suggest a potential reversal or consolidation. Practical Takeaways Watch the Close: The close is your primary indicator of sentiment. A close at or near the high (for bullish candles) or low (for bearish candles) can give you confidence in a trade. Long Wicks Mean Rejection: Wicks can show where the price was rejected, which helps identify areas of support and resistance. Don't Ignore Small Bodies: Small bodies with long wicks are signals of indecision. Don’t be too eager to jump into trades after such candles without further confirmation. Reading candles like a book isn’t just about recognizing patterns—it's about understanding the market's emotions and sentiment. Every candlestick is a snapshot of the battle between buyers and sellers, and by learning to read these battles, you can understand the market's story and predict what might happen next. How do you use candlesticks in your trading? Are there certain patterns or setups that you rely on? Share your thoughts below—I’d love to hear how you read the story in the charts!
FX:USOILEducation
by TLTurnerTV
EDUCATION: Simplified Candlestick Psychology (Part 1)As traders, understanding candlestick patterns is fundamental to decoding market behavior. But beyond the pattern itself, there’s a deeper story being told with every candle. Just like words form a story in a book, the Open, High, Low, and Close (OHLC) of a candlestick reveals the psychological battle between buyers and sellers at a given moment in time. In this video, we’re going to break down how to read candles like a book and uncover the psychology behind each price action move. The Anatomy of a Candlestick Before we dive into the psychology of candles, let's refresh on the basic anatomy of a candlestick: Open (O): The opening price of the candle, where the price starts within the time period. High (H): The highest price reached during the candle’s time frame. Low (L): The lowest price reached during the candle’s time frame. Close (C): The final price when the candle closes at the end of its time frame. Each candlestick provides valuable information about the price action during that specific time period. But what’s even more important is the psychological narrative it tells. The Psychology Behind the OHLC Understanding the psychology behind the Open, High, Low, and Close will give you insight into the market’s behavior and sentiment. Here’s a breakdown of what each component reveals: The Open (O): The start of the battle. The opening price represents the market's starting point. Buyers and sellers have already made their decisions before the candle even begins, and the open shows where the price begins to unfold. If the open is near the low of the day, it indicates a bearish sentiment, while an open near the high could show bullish strength. The High (H): The peak of the conflict. The high of the candle represents the furthest point reached by either the bulls or the bears. When the price reaches a new high, it signifies that the buyers are in control and pushing the price up. Conversely, if the high is lower than the previous candle's high, it suggests that sellers are starting to assert their influence. The Low (L): The valley of indecision. The low of the candle is where the price falls before either the bulls or bears regroup. A low that is lower than the previous low indicates that the sellers are pushing the price downward. A higher low, on the other hand, suggests that the bulls are holding the line and potentially setting up for a rebound. The Close (C): The conclusion of the battle. The close is the most important price point of the candlestick, as it represents where the battle between buyers and sellers has ended. The relationship between the open and close tells you who won the fight. If the close is higher than the open, buyers have won the battle. If the close is lower than the open, sellers have gained control. Reading Candles Like a Book When you look at a candlestick, think of it like reading a short sentence in a book. Each candle tells a small part of the market’s ongoing story, and together they form the narrative of price movement. Here's how to read the story: Bullish Candles (Close > Open): When a candle closes higher than it opened, it tells the story of a market that was dominated by buyers. The longer the body, the stronger the buying pressure. A large body with a small wick suggests buyers were in full control with little resistance. Bearish Candles (Close < Open): When the candle closes lower than it opened, it represents a market where sellers took charge. A long red body with little wick indicates a strong bearish move. A bearish candle with long wicks shows that although sellers were in control, there was some pushback. Doji Candles: A doji occurs when the open and close are almost identical, signaling indecision or equilibrium between buyers and sellers. Doji candles are like a “question mark” in the story, telling us that the market is uncertain about which direction it will take next. Engulfing Candles: An engulfing pattern, whether bullish or bearish, tells the story of a shift in momentum. If a candle completely engulfs the previous candle’s body, it signifies a strong change in sentiment—either a bullish or bearish reversal. Putting it All Together: Candlestick Psychology in Action Understanding the OHLC components is the first step, but it’s how these elements come together that really gives you the full psychological picture. A candlestick is like a snapshot of a battle. The open is where it starts, the high and low represent the range of movement during the battle, and the close is where the conflict resolves. When you read candles in sequence, you begin to see the ongoing tug-of-war between buyers and sellers. The story unfolds slowly, and the more you practice, the better you become at predicting the next chapter. Let me know your thoughts below!
FX:USOILEducation
by TLTurnerTV
Crude Oil - LongCrude Oil is trending lower with lower highs and lower lows, though price aggressive bounce backs and retracements indicate a non-trending market. The recent penetration of the 68.00 price level (year to day - low) and retest of the 65.00 level, imply the price is heading lower. However, the price rebounded at the second retest of the level and currently trading at its recent high of 72.00. A further continuation higher is anticipated with the next probable target at 76.00 level where a continuation higher set 78.00 under the scope.
TVC:USOILLong
by Kyriakos_CFTe
Crude turns down at resistanceCrude oil started the week on the backfoot. It made gains throughout the first half of last week, but was unable to break above resistance, and pulled back from its best levels on Thursday and Friday. For front-month US Light, that resistance topped out around $72.50 on a closing basis. This level acted as a barrier in both September and October, and now November as well. Trump’s win in the presidential election seems likely to bring tax cuts and deregulation which should boost business, and possibly a small uplift in domestic demand. At the same time, Trump has made it clear he wishes to encourage US energy production, particularly oil and gas, and this should keep prices under downside pressure. Meanwhile, numbers released last week backed up analysis showing a slowdown in future demand growth. China, the world’s largest oil importer, recorded a sixth successive month-on-month fall in October. At some point the buyers will come back in. But for now it looks as if oil prices have further to fall, which should be good news for most of the world, if not Europe in the UK where tax plays such a significant role in pricing.
TRADENATION:WTI
by TradeNation
1
USOIL, dailyOil prices fell more than 2% as concerns about Hurricane Rafael’s impact on Gulf of Mexico production eased, and China’s latest economic stimulus measures failed to impress oil traders. Rafael, now a category 2 hurricane, is expected to stay centered in the Gulf, reducing risks to oil output. China’s fiscal support focused on easing local government debt rather than stimulating demand, disappointing investors amid ongoing deflationary pressures and a sixth consecutive monthly decline in China’s crude imports. Despite these losses, oil prices rose over 1% last week due to expectations that new U.S sanctions on Iran and Venezuela could reduce global supply. On the technical side, the price is currently testing the support level of the 23.6% of the daily Fibonacci retracement while the Stochastic oscillator is in neutral levels hinting that the price has the potential to move in either direction in the short term. The faster 50-day moving average is trading below the slower 100-days validating the overall bearish trend in the market, at the same time the Bollinger bands have somewhat contracted showing that volatility is slowing down in the market for crude oil. This could mean that there might be some sideway movement in the coming sessions and there might need a new catalyst to perform any significant moves.
TVC:USOIL
by Exness_Official
Market Analysis: WTI Crude Oil Eyes UpsidesMarket Analysis: WTI Crude Oil Eyes Upsides Crude oil price is rising and it could climb further higher toward the $75.00 resistance. Important Takeaways for WTI Crude Oil Price Analysis Today - WTI Crude oil prices are moving higher above the $70.00 resistance zone. - There is a key bullish trend line forming with support near $70.90 on the hourly chart of XTI/USD at FXOpen. WTI Crude Oil Price Technical Analysis On the hourly chart of WTI Crude Oil at FXOpen, the price started a decent increase against the US Dollar. The price gained bullish momentum after it broke the $69.40 resistance. There was a sustained upward move above the $70.00 and $70.90 levels. The bulls pushed the price above the 50-hour simple moving average and the RSI climbed toward 70. A high was formed near $72.31 before there was a downside correction. The price declined below the 23.6% Fib retracement level of the upward move from the $69.43 swing low to the $72.31 high. However, the bulls are active above the 50-hour simple moving average. There is also a key bullish trend line forming with support near $70.90. Immediate resistance is near the $72.30 level. If the price climbs further higher, it could face resistance near $73.50. The next major resistance is near the $74.20 level. Any more gains might send the price toward the $75.00 level. Conversely, the price might correct gains and retest the 50-hour simple moving average or the 50% Fib retracement level of the upward move from the $69.43 swing low to the $72.31 high at $70.90. The next major support on the WTI crude oil chart is near $70.10. If there is a downside break, the price might decline toward $68.75. Any more losses may perhaps open the doors for a move toward the $66.85 support zone. This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
FXOPEN:XTIUSD
by FXOpen
WTI Oil H4 | Falling to 50% Fibonacci supportWTI oil (USOIL) is falling towards a pullback support and could potentially bounce off this level to climb higher. Buy entry is at 69.44 which is a pullback support that aligns close to the 50.0% Fibonacci retracement level. Stop loss is at 68.15 which is a level that lies underneath an overlap support and the 61.8% Fibonacci retracement level. Take profit is at 72.54 which is a swing-high resistance. High Risk Investment Warning Trading Forex/CFDs on margin carries a high level of risk and may not be suitable for all investors. Leverage can work against you. Stratos Markets Limited (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 64% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Europe Ltd (www.fxcm.com): CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Stratos Trading Pty. Limited (www.fxcm.com): Trading FX/CFDs carries significant risks. FXCM AU (AFSL 309763), please read the Financial Services Guide, Product Disclosure Statement, Target Market Determination and Terms of Business at www.fxcm.com Stratos Global LLC (www.fxcm.com): Losses can exceed deposits. Please be advised that the information presented on TradingView is provided to FXCM (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd. The speaker(s) is neither an employee, agent nor representative of FXCM and is therefore acting independently. The opinions given are their own, constitute general market commentary, and do not constitute the opinion or advice of FXCM or any form of personal or investment advice. FXCM neither endorses nor guarantees offerings of third-party speakers, nor is FXCM responsible for the content, veracity or opinions of third-party speakers, presenters or participants.
FX:USOILLong
by FXCM
1
WTI crude oil has bearish conditions prevailingTVC:USOIL continued to decline during the Asian trading session on Monday (November 11), trading around 70.03 USD/barrel. As the storm's impact on the supply side waned, sentiment in favor of rising oil prices faded. At the same time, the US Dollar index is strong and rising, putting pressure on WTI crude oil and global demand is expected to show no signs of recovery. Under many resonances, the positive outlook for WTI crude oil is still quite dim. It is currently near the integer mark of $70. If it falls below again, a return to the previous low is likely. Essentially, continue to pay attention to changes in inventory data, as well as whether the US Dollar Index (Dxy) continues to exert strong pressure on oil prices. On the daily chart, after crude oil TVC:USOIL Under pressure from the area around 72.39USD, readers should note that in previous publications, the recovery momentum has weakened. Meanwhile, moving below the 0.236% Fibonacci retracement level and the RSI pointing down from the 50 area will be quite good signals for bearish expectations. The first target level for bearish expectations is $68.77 in the short term, ahead of $68.11 and $66.44. Currently, WTI crude oil has technical conditions that are completely inclined to the downward trend with the price channel being the long-term trend. During the day, the downtrend of WTI crude oil will be noticed again by the following technical levels. Support: 70 – 68.77 – 68.11USD Resistance: 70.56 – 72.39USD
TVC:USOILShort
by Xayah_trading
Falling towards pullback support?WTI oil (XTI/USD) is falling towards the pivot and could bounce to the 1st resistance. Pivot: 67.74 1st Support: 65.55 1st Resistance: 72.63 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Disclaimer: The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice. Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
ICMARKETS:XTIUSDLong
by ICmarkets
1
Crude Oil Weekly Technical AnalysisCurrently, Crude Oil is forming a descending triangle on the weekly timeframe, with significant support at the 0.5 Fibonacci retracement level. This level is a critical point; a break below it could signal further bearish momentum. Should this support level fail, I expect the price to target the next Fibonacci levels at 0.618 and potentially down to 0.786, indicating possible continuation of the downward trend. I will monitor for confirmation signals of a breakout to the downside, such as increasing volume or bearish candlestick patterns, before confirming a short position. However, if support holds, the triangle could consolidate further, so I will remain cautious for potential reversal signs. My Approach 1. Weekly timeframe as a guiding framework 2. Daily for pattern confirmation 2.1. Bearish Candlestick formation below support (like a bearish engulfing or strong red candle). 2.2. Rejection candles near the descending upper resistance line (like doji or shooting star). 2.3. Increase in volume on a breakdown below support to confirm seller commitment. 2.4. Decreasing volume within the triangle as consolidation continues. 2.5. Spike in volume on a failed breakout could indicate a false move and potential reversal. 3. 4-Hour for entry
TVC:USOILShort
by kr_ta
USOIL Trading IdeaBased on Simple Technical Analysis ( Trendline + Support & Resistance ) Risk Disclaimer: Please be advised that I am not telling anyone how to spend or invest their money. Take all of my analysis as my own opinion, as entertainment, and at your own risk. I assume no responsibility or liability for any errors or omissions in the content of this page, and they are for educational purposes only. Any action you take on the information in this analysis is strictly at your own risk. There is a very high degree of risk involved in trading. Past results are not indicative of future returns. Good luck :-)
FX:USOILLong
by ShahedZare
USOIL What Next? BUY! My dear subscribers, My technical analysis for USOIL is below: The price is coiling around a solid key level - 70.38 Bias - Bullish Technical Indicators: Pivot Points Low anticipates a potential price reversal. Super trend shows a clear buy, giving a perfect indicators' convergence. Goal - 71.05 About Used Indicators: By the very nature of the supertrend indicator, it offers firm support and resistance levels for traders to enter and exit trades. Additionally, it also provides signals for setting stop losses ——————————— WISH YOU ALL LUCK
TVC:USOILLong
by AnabelSignals
1