high wave candle = market is confused !!!

A high wave candle has appeared on the daily chart. The small body with long wicks on both sides shows that a fierce battle between the bulls and the bears have occurred  with both camps have roughly equal strengths.

Candlesticker.com classify this type of candle as a reversal candle with medium reliability. Should Monday's candle turns bearish. it would serve as a confirmation that the bears are gaining the upper hand. Take note that the price has hit the 50% fib level of the last down swing; indicates that the upwards retracement might been completed.

Below is the daily chart at the this weekend market's closing. Good luck and happy trading.


  • Thank you for all the great posts from last year! I look forward to reading your blog, because they are always full of information that I can put to use. Thank you again, and God bless you in 2010.

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