Buying pressure

[Abiel 475]

Today in the chatroom Andrew shared this piece of advice regarding price action: he explained how this large wicks on candlestick were a sign of buying pressure:

 

 

As you can see, after these candlesticks AAPL reverted...

 

Good to keep this in mind while we´re trading...

[Robert H 455]

Great post, Abiel! Also note that it failed to make a new low two times which was a sign that bears were getting exhausted.

[Abiel 475]

You´re right Robert, thx! We need to ingrain these distinctions as a second nature in order to be successful as day traders...

[Anders 5]

Saw the inverse of this today with the example below -- long wicks above the candle, indicating selling pressure.  Sure enough, price dropped shortly after.

 

 

Glad I got out!