Market Notes｜$XMR ｜5 consecutive bullish daily candles｜Cumulative +9.16%
Definition: A bearish candle compares its own opening and closing prices. Binance trades continuously 24 hours a day, so the daily candle’s opening price is almost the same as the previous day’s closing price. Therefore, a bullish candle roughly means the price rose from the previous day’s close.
How to read it: Rushing to buy the dip after consecutive bearish candles or chasing highs after consecutive bullish candles are both common mistakes. It’s better to first think through what you’ll do if your read is wrong, then act.
Leave plenty of room when using leverage, and don’t let a single long wick force your position out of the market.
Definition: A bearish candle compares its own opening and closing prices. Binance trades continuously 24 hours a day, so the daily candle’s opening price is almost the same as the previous day’s closing price. Therefore, a bullish candle roughly means the price rose from the previous day’s close.
How to read it: Rushing to buy the dip after consecutive bearish candles or chasing highs after consecutive bullish candles are both common mistakes. It’s better to first think through what you’ll do if your read is wrong, then act.
Leave plenty of room when using leverage, and don’t let a single long wick force your position out of the market.
