any thoughts... chartist opinion, page-7

hi wave candle :) High Wave Candlestick

A high wave candlestick occurs when a security trades in a wide intraday range and the price movement from open to close is relatively small. The intraday high and low form the long upper and lower shadows. The real body, which is formed with the open and close, is relatively small when compared to the upper and lower shadows. (Chart)


If a high wave candlestick occurs after an uptrend, it indicates that the bulls could be losing control of the trend. If a high wave candlestick occurs at the end of a downtrend, it indicates that the bears could be losing control of the trend. By itself, the high wave candlestick does not produce a buy or sell signal. It should serve as an alert to a possible change in trend and be used with other aspects of technical analysis.