Unit 3 · Level 1 · Charts & Candles
Anatomy of a candle
Every candle has a BODY (the thick part, from open to close) and WICKS (the thin lines, showing the highest and lowest prices touched). A green candle closed higher than it opened. A red one closed lower.
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What you get asked
A candle is green. What does that tell you?
Green = closed above the open. It may still have dipped hard in between; that's what the lower wick shows. (And every trade has exactly one buyer and one seller, so volume is equal by definition!)
A candle has a tiny body and a very long lower wick. What's the story?
That long lower wick is a battle scar: price fell, then recovered. Traders call this a 'hammer', a hint that buyers defended that level.
A candle with a long upper wick shows that ___ rejected the higher prices.
Price went up there but couldn't stay; sellers slammed it back down. Wicks show where a price was refused.
Big green body, almost no wicks. What happened this period?
Clean body, no wicks = one side steamrolled. You're now reading candles like tiny stories, which is exactly the skill.
Five red candles down… then look at the biggest candle near the low, the one with the long tail underneath. What is that wick telling you?
A long LOWER wick means the low was visited and refused. After a decline, that rejection is the first sign buyers are stepping in, which is exactly what happened next on this chart.
True or false: a single candle pattern is enough reason to bet real money.
Candles are letters, not sentences. Context, levels, and risk management (coming in League 2) turn hints into plans. Formi says: patience. 🐜
The rest of this unit
Read candlesticks, timeframes, trends and volume: the language of every chart.