Query : How to find trend direction as I am confused with tails.
Answer : Yellow line is the support which turned as resistance, Once the price has broken the support, it becomes resistance. When price was nearing the support, the candles were forming with long upper wick, which indicates more sellers were coming in. Once the support was broken, trend was bearish and selling pressure was indicated by candles, we can sell.
Conclusion : Find stocks which has broken the support to go short.
Note : Hit like to get more educational posts and please do not write comments :)
Answer : Yellow line is the support which turned as resistance, Once the price has broken the support, it becomes resistance. When price was nearing the support, the candles were forming with long upper wick, which indicates more sellers were coming in. Once the support was broken, trend was bearish and selling pressure was indicated by candles, we can sell.
Conclusion : Find stocks which has broken the support to go short.
Note : Hit like to get more educational posts and please do not write comments :)
Note
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Role I play here : Moderator. Follow me in telegram to trade better. t.me/Analysis4Newbie Contact information : tradingplan4u@gmail.com
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.