Wick SequencingLet’s look at that same example again but, this time we’ll use a four hour chart. The benefit of a four hour chart is that we’re getting a lot more information in the same number of candles but, the trade-off is less granularity. But, price is price, and whether that price served as support or resistance on a one minute or a weekly chart, it will show on the candlestick chart as an inflection.
But – when we get a grouping of candles all showing wicks in a similar area – that’s highlight a key price level that’s at work, continuing to drive price flows in that market as it comes into play. On the below chart, notice the orange boxes, one on left and the other on the right side of the chart.
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