Hey snipers foster here I decided to make you guys a video about something that's easily overlooked
namely Kendall's
some of you might say how can you ever overlook Kendall's you're sure your screen is filled with it and
I'll tell you why okay
we were in Carnegie, and this is part of the litecoin five-minute chart and
My screen is filled with chat with kennels, right?
green candles
Showing that there's buying going on which results in a higher price pressure go up
Red candles means that they're selling going on with the result that price will go down
so
That's actually what a lot of people look at it's basically a line. They see prices go down up down etc
I go up and down
And to be honest you
And Eve can also draw certain patterns right so I can say well
right here seems to be
support line
and
This is an ascending triangle and you know
Things should break out and it happens
but we do not just look at
This line we look at candles
So what information is in candles that you can learn from that's what I basically want to talk to you about
First of all how is it Kendall being built I?
Candle consists of a bottom here, which is the starter open price and the top here which is the finisher close price?
And you have these little things sticking out these are called wicks
Now on this wick and in this week
There is actually training going on for instance people are buying all the way up to in this case the example six dollars
Except for there is enough selling here that the price doesn't close there
So this close price below this wick means that there is a form of resistance
Now there are different types of weeks you have short weeks and
Long weeks some some of them you might have seen oh very long how two weeks on top
Here are called upper shadows and you also have two the ones on the bottom. They're called lower shadows
Usually an upper shadow is indicator that
people were buying
Pairs going up to the highest price, but it was a lot of volume selling volume here pressing
Basically that that closure is finished down, and that's when a minute basically a second minun was over
That's what the price was and because there's pressure here, which you can see as
Resistance price will most likely go down
Doesn't mean immediately it can take another one two candles with another one or two at all upper shadows that a price will go now
now in this case
the opening is here and
because this is selling disc and reversed because when you buy the open is on the bottom, and it closes on the top and
Here it's selling the open is on the top and the closed at the bottom
And what happens here is price went all the way down to $1.00
But there was enough buying here going on to pressure put pressure on there
So that the closing price was here
Now this is an indicator the lower
shadow that prices will most likely go up because you could see it as support and
In my example price will go up again
There's two things that I want to actually three three three things that I want to point out
In my last video I talked about Fibonacci retracements and as you look usually at the top
Before something was in price and then the bottom
And it's very important that you choose the top of the wick and the bottom of the other wick
Because this is where training was going on there was a lot of training over not here kind of like there are battles here bells
Being fought and this is the result okay, so
The fact that this is a thin line doesn't mean it's maybe only one extreme one outlier
No there can be a lot of training going on here except for
You know once again because of this battle between
buying and selling
The result is not on top of this week
So let's say that
I put in a
Buy order on this green line now where your minute what I bought here price will go up, but a little more
Okay now, but when I put in this buy, or there are some other things?
I want to know I want to know when am I gonna get out of this market?
So this will be for instance my sell order right here when I reach this price. I've made my gain
Wherever there's three one two three four 10%
And
Something important as well is this this is gonna be basically my stop limit by stop-loss
So if price will actually go below that number. I want to sell because I do not want to take any losses more than here
and this is two more examples of weeks where weeks can work against you and
You know I guess with you
Let's say in this third candle that the minimum price wasn't a dollar for 10 cents
What happens is this week will trigger your?
Stop-loss and start selling so people are selling people are selling people so your your stop-loss is being triggered
And your position is gone because there's buyers here
And they're fighting and it goes all the way up and this when this minute is over and so you were pushed out of your
position by this wick and
Prices went up, and you're like well price go up. I made a you know
I'm gaining money
But you know if you set this before you want to go to groceries or going to school or your job. It came home
Where are my profits? Are you? You know you salt? Why did you sell because of this?
That's why a lot of traders like
an alarm set so when this
Price level is reached
They get an alarm so they can look into it where it was through their computer phone or whatever they say
Oh look. It was a week so going to keep our position
Something else that can happen
Is when this top wick?
This upper shadow is actually taller
for instance
here
Let's say that this was the highest price, and we're trading here
Basically in a channel. We're not going to go any higher than here
This week because that was buying going on here actually triggered your
Your sell order so you were able to make these profits
Even though the candle did you know didn't close there or above there, so this is definitely
Important especially the one here when a candle in this case the lower shadow can actually break through your stop-loss
So be very careful
With what you do?
I'd like to show you guys a couple of examples here about the upper and lower shadows and
I want to point out a few different types of candles
What we have here, oh, well you see here for instance that you have a couple of tall
Upper shadows the wicks which could lead to price going down and in this case the first one didn't but the second price went down
You see a couple of other examples you have a bunch of wigs here that are
Taller than usual and that could lead to a price going down which it did
Let's find another
Here you see
One whoops I need to get used to this
Here you see
Slightly taller wicks that could potentially
Once again, it doesn't it doesn't isn't always true make the price go down
We should it and
Over here you see a couple of tall ones which most likely would lead
To price going up and swear the price went up again
Now this isn't always the case for instance and that's why I gotta be careful with this and use this is another indicator
No, you cannot. Just trade on wicks
they remove these lines and give you an example here I
Don't see any
Wicks here that show that the price will go up nor do I see any weeks here
There is substantial that the price will go down again
So it's not always it's not always the case
Ok I want to point out a few
Other things and those are types of candles what you see here is basically
a tall candle that has almost no wicks I
Gotta take the mouse over there
And those are called Maru BOCES basically it means that it's a strong buying or strong selling
Now
You also have what they call
Spinning tops and a spinning top means that there isn't a whole lot of difference between the opening and closing price
And it could be
Called some people call it a standoff or it's indecisive
Like friends and this one here right here
See there's a lot of fighting going on but in the end
There's not a whole lot going on with the price
So I'm not really sure what's going to happen here price could go up price will go down
and
Then you have the doji's
There's only sub variants of these types of Kendal's
If you want to of course you can google this and look into it, and I don't want to make this video too complex
But the doji's are basically that there's almost no price
Difference between opening clothes and there are wicks like friends in this one here
Let me draw this make a little circle
Here this one right there
That's a doji and usually a doji
Means that there's gonna be a price reversal so if there was a downtrend usually it will go up
this slightly resembles a doji
There's still a very small amount of price difference
Is there on this is not a doji this is?
Spinning top just like this spinning top. Let me see this is a doji right here. There's
You can hardly see almost anything between
price close and price
Open and close and so you see a reversal
So yeah, that's basically what this video was about it's about Kendall's awakes. I hope you guys appreciate
the video
Use this as another indicator
Don't just go blind on Wix right now from now on
I know I won't but I'll sure I'm will be certainly looking at these wicks and
incorporators in my in my trading
Once again, thank you very much for for watching snipers out
You
