$BTW Daily chart: 7 consecutive bullish candles, up a cumulative +71.88% over that period, and up +9.07% so far today.
A beginner’s burning question: What does it mean to have consecutive bullish or bearish candles?
Before the daily candlestick closes, its color can change: if the price moves back across the opening price during the session, a bullish candle can turn into a bearish one, or vice versa.
Some people like to look at daily and weekly charts together: when the weekly trend aligns, a streak of bullish or bearish daily candles is more likely to continue for a while; when they point in opposite directions, it’s wise to be more cautious.
It’s much more reliable to size your position based on where you place your stop-loss than to do it by gut feeling.
#BTW
Just a personal note—make your own decisions about trades.
A beginner’s burning question: What does it mean to have consecutive bullish or bearish candles?
Before the daily candlestick closes, its color can change: if the price moves back across the opening price during the session, a bullish candle can turn into a bearish one, or vice versa.
Some people like to look at daily and weekly charts together: when the weekly trend aligns, a streak of bullish or bearish daily candles is more likely to continue for a while; when they point in opposite directions, it’s wise to be more cautious.
It’s much more reliable to size your position based on where you place your stop-loss than to do it by gut feeling.
#BTW
Just a personal note—make your own decisions about trades.