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Alright everybody. Now in this
video we're going to discuss
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candlesticks part two. Now I
want you to put focus on we
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already discussed the basics of
camel sticks. I want you to put
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focus on three parts of the
candlesticks that people tend
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to neglect. Um and I'm going to
type it out for you guys. It is
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the body. Obviously that
entails the volume. It is the
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equilibrium of the camel stick.
And now when you write
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equilibrium I only want you to
put in quotations or whatever.
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I want you to put the daily
candlestick. And then last but
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not least the exhaustion. Okay.
Now we already discussed the
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high, the low, the open and the
close but I wanted to put focus
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on the body. The volume and the
exhaustion. Now obviously this
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is going to be our body. Our
equilibrium is going to be
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somewhere in the middle right
over here because that's what
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the equilibrium stands for.
It's the middle of the
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candlestick. And obviously our
exhaustion. Now I know what you
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guys have been taught. Some of
you have been taught that if we
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see a candle stick looking like
this and do we have a let's say
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a wick on the top. What is this
telling us? This is telling us
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that there's lots of momentum
to the downside. Now that much
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is true but it it has to be put
into context. Now that context
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I'm going to give to you today.
So always remember it depends
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on where the wick is and where
in the market you are. For
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example if I see a candle
sticker it looks like that I'll
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show you guys but it's
extremely difficult. For
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example right over here. As you
can see there's no wick to the
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downside and what happened the
market immediately reverted to
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the downside exactly the same
with this candle stick the
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market created a wick to the
upside now when we have a
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candle stick that has no wick
to the downside and I can point
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quite a number of them These
are usually the cano sticks
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that's not the most optimal
candlestick for entry. Why?
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Because there's no range. Okay.
There's absolutely no range for
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the market to go to. So for
example if if this is our
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candle stick on let's say the
higher time frame let's say the
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H four
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And let's remove the width to
the top side. I'm just briefly
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going to run through exhaustion
and stuff because we already
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covered it. But I want you to
focus on the candlestick now. I
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want you don't want you to
focus on the concept of
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exhaustion. I want you to focus
on the candlestick. Okay. And
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we have this being formed and I
already drew this out for you
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guys. And we have this being
formed on the lower time frame.
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Let's say we have one bearish
candle. And maybe another one.
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And then we have bullish
candles.
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What does this mean? This is
telling us in concept this is
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telling us that there has been
no momentum to the downside.
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There has been no retracement.
Okay. So we would rather want
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to see something like this.
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For the market to retrace and
then obviously it's going to
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leave a give us a wick on the
other side because what's
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happening over here is
happening on the higher time
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frames as well. So when we see
this on the lower time frame
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AKA let's just write it out the
30 minute then it's obviously
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happening on the H4 as well.
Okay so I just want to make
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that clear for you guys. Now
when we see this This means
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that the market hasn't
retraced. So you immediately
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exploiting yourself or allowing
yourself to experience drawdown
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because where will your nearest
stop loss speed will be over
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here when you enter a trade
like this. The market has to
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come back down and retrace.
Instead of waiting for
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something like this wait for
the wick and then just rather
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wait for a small retrace to add
with confluence. And then on
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the next H four candle when the
next H four candle opens you
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can get in on that movement. So
I hope that makes sense. Um now
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when we focus on the exhaustion
once again it depends on where
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the market currently is. So for
example on this candlestick
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look at this market movement
that we had on Friday. We had
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exhaustion to the upside and to
the downside. And then the next
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scanner we immediately had
exhaustion to the upside. So
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what is this telling us? It's
telling us the market is going
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down. But then look immediately
what happened? Exhaustion to
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the downside. Now if we put it
into context let's see where
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the market is. Let's zoom out
and we can immediately see all
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right guys we're at a support
zone. So we add a support zone
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So this exhaustion to the
upside it it doesn't tell us
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pretty much it would have been
better if we got a break and
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then the exhaustion showing us
over here. So you always have
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to put the exhaustion into
context. Now when I refer to
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exhaustion for the guys that's
still a little bit confused.
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I'm speaking about the wick.
Okay. I'm talking about the
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wick. This is not exhaustion.
Um because it's is small. Let's
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say we got something like this.
Ja then then we consider this
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exhaustion. Okay. It all
depends on your discretion. You
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just have to use your
discretion. Um let's point out
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a few zones. Um you now we're
going to do a quick exercise. I
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want you to pause the video.
And just test yourself. See
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where you can see the
exhaustion zones. Okay so pause
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the video now. Okay so if you
play the video I'm going to
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draw out the exhaustion zones
for us now. We can see this is
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exhaustion. This is exhaustion.
This is exhaustion over here.
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Your eyes will start to
recognise the exhaustion. Both
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of these are exhaustion wicks.
This is exhaustion wicks and
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then we formed one up here. So
there's no specific way of
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drawing them. It's not 50% of
the candle. 25% there's no such
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thing. Um for me personally
rule number one. If the wick is
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larger than the body obviously
that is that is exhaustion. Um
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that is a definite rule. For
example if we have something
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like this this is obviously
exhaustion. But if we have
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00:07:22,728 --> 00:07:27,888
something like this it's also
exhaustion. Okay. So it all
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00:07:27,888 --> 00:07:32,568
depends. This is not really
exhaustion. Okay. So it depends
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on you. You have to use your
discretion. But put it into
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context. What is the exhaustion
telling us? It is it has to be
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on a key zone. For example
let's say This is not such a
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clear exhaustion zone because
the market continued to rally
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up. This is obviously an
exhaustion zone because the
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00:07:52,788 --> 00:07:56,788
market tried to push up and it
immediately went down. The
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00:07:56,788 --> 00:08:00,868
market did not revert back up.
Okay. So always keep track of
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00:08:00,868 --> 00:08:05,828
that what is the exhaustion
telling us. Now as I mentioned
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00:08:05,828 --> 00:08:08,508
earlier in the well in the
first part of the video don't
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00:08:08,508 --> 00:08:11,348
neglect the candlesticks. Each
and every candlestick is
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00:08:11,348 --> 00:08:15,388
telling us a story. For example
like I just mentioned. This
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00:08:15,388 --> 00:08:18,788
story that we can plot out
here. The market exhausted to
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00:08:18,788 --> 00:08:22,308
the downside on that key
support area It also gave us
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00:08:22,308 --> 00:08:26,188
exhaustion to the top side. But
I want you to focus on this.
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Look at the wick is higher than
this wick. So it tells us it is
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a an uptrend on the lower time
frame. Let me show you. Because
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I want to show you practically.
So this is a 30 minute. Let's
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go to the 5 minute. And let's
mark it out. So as you can see
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let's just mark it out so this
is the higher low and then the
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market made a high why is this
not a valid higher low it can
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be but remember it has to be in
context so if we broke above
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this candle stick high it would
have been a high low but I
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don't want to confuse you and
this is our next high low so
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00:09:04,528 --> 00:09:10,768
let's go to the 30 -minute once
again and we can see okay this
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week was higher than this wick
so when up and immediately
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after that this wick was higher
than this wick. And we
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continually continuously
created higher highs. Okay so
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always put it into context and
I'm definitely not talking
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about candlestick formations
such as engulfing candles or
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dojis. I'm talking about
focusing on the candlestick as
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a as a whole. Letting the
candlestick tell you a story
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for example. Um this support
that we had formed this
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morning. It nearly broke the
support but did we have a wick
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00:09:46,648 --> 00:09:49,968
to both sides? Yes we did on
the breakout camel stick but
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this camel stick did not give
us a wick. So this was not a
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trade that I would have entered
because we did not get that
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wick to the top side. Meaning
the market can still come back
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up and create this wick nine
times out of ten. So it's just
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a basic rule that we need to
focus on. But if you focus on
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the current let's forget about
that and we focus on the
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current market conditions.
Every camel stick a story. We
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can see we created high lows.
We created a small support.
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Forget about everything else.
I'm just speaking about the
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current market conditions.
Okay. Forget about everything
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else. Forget about the high
time frame, the session
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timings. Just I just want to
explain the story to you. We
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00:10:31,548 --> 00:10:37,088
can see we're currently in a
range We can see that we're
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00:10:37,088 --> 00:10:41,968
breaking this range and the
market is creating lower highs
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00:10:41,968 --> 00:10:49,988
and lower lows. Okay. So always
remember the market is telling
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00:10:49,988 --> 00:10:54,148
us a story. Um stop neglecting
the candle stick. Each and
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00:10:54,148 --> 00:10:57,188
every candle stick is telling
us a story. But obviously take
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00:10:57,188 --> 00:10:59,868
note of this.
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00:11:07,888 --> 00:11:10,828
Sorry.
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00:11:12,548 --> 00:11:16,368
Okay take note of this. And
take note of those three candle
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00:11:16,368 --> 00:11:19,568
sticks that we mentioned. And
don't neglect your candle
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00:11:19,568 --> 00:11:22,808
sticks. Okay so I'll see you
guys in the next section where
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we'll start identifying the
trend.
14672
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