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Understanding price actions starts with the understanding of entry-level Candlestick charts. A Candlestick chart forms the basis of technical analysis. Upon this knowledge, we can bring out important concepts like Support and Resistance, market trends, and price actions right from the chart.
As the name implies, this is a price action chart that involves numerous candles, which shows what the market is saying at a particular period. Unlike the other tools that indicate price action, Candlestick is way more comprehensive as they give the Open, Close, High, and Low price at a given instance.
OHLC, as they are called, is not placed statically on the candle as the location of each of these indicators is determined by whether the market is a Bearish(Sellers) market or a Bullish (Buyers) market.
For example, in a bullish candle, the “High” is placed at the top of the upper wick(or shadow), indicating the extent of the price before sellers stepped in. The Closing price is typically above the opening price, and the low of the candle is at the tip of the lower wick shows buyers strength when sellers attempted to push the price lower.
The opening price is typically above the close price for a Bearish Candlestick, indicating a declining price action. The High and Low indicate the attempt of the buyers to change the direction of the market trend.
The candle’s body is the point between the opening and closing price, and they indicate the strength of the dominating actors in the present market.
The colors of the candles are not cast in stone as they can be changed to trader preference. It’s, however, usual to see green used for a bullish candle, while red for a bearish candle. Traders also use other colors, including purple and blue, black and white, ash and brown.
The candles are given per period, meaning each candle on a 4-hour time frame indicates the market action for 4 hours; by lowering or increasing the timeframes, traders can see the market on a Micro or Macro level.
For example, tweaking your timeframe into a 1hr TF will zoom in your chart to split a 4hrs chart into 1hr candle each, giving you much more specific details of the price action for 4hrs.
Changing the time frame to a much bigger time frame, e.g., monthly, is now what we call zooming out, giving traders a broader perspective of the market.
Heikin-Ashi Candlestick is the modified version of the Japanese Candlestick, which has been expanded above. It uses the same concepts as the Japanese; the difference is that in Heikin-Aishi, the Candles are modified to give the average price. The main goal is to smooth out price action and filter out market noise, as traders can easily spot trends with this Candlestick type.
Depending on where these different candles are placed in the chart, they can give traders insight into what may happen in the market. Here are three more different types of candlestick patterns and their respective qualities.
The Doji is a single candle pattern and is neither bearish or bullish as Doji represents a state where the price closes precisely where it opened. For this reason, the Doji appears as a dash as it has no candle body.
Depending on where they are placed, hammer Candlestick may indicate trend reversals. This Candlestick pattern usually has a small body at the top or bottom with longer wicks at any of the two sides.
Hammer and Inverted Hammer: Same shapes appearing at the support region of a chart in a bearish trend indicating a bullish reversal incoming.
Hanging Man and Shooting Star: Same shapes as the Hammer and Inverted Hammer usually appear during a bull trend at the resistance areas in the chart, indicating an incoming reversal of the prevailing trend.
This typically involves a random and a bigger candle engulfing the smaller candle. As with the Hammer family, this depends on the area of support to indicate a trend reversal.
Bearish Engulfing candlestick appears in support with a big red candlestick engulfing the smaller green candle. Bullish Engulfing candle doing the same at the support zone, indicating a bullish trend incoming.
At every point in time, traders can look at the chart, place the chart in a Candlestick pattern, and grab a feel/perceptive of how the market is doing per time. With consistency, mastery, and application, a trader can correctly time the market, get accurate entries, and exit by understanding price action via Candlestick formations.
Candlesticks charts by themselves do not have a weakness. However, its weakness may come from the trader using it. For example, as with other technical indicators, Candlestick does not work in isolation. Even though the chart pattern tends to give an idea about the market per period, it works best with experienced minds that can extrapolate future trends as well as what is happening in the present.
A constant honing of the skills and mastering Candlestick will eliminate almost all possible weaknesses caused by human errors. This doesn’t mean traders will always make the right decision, but they will usually set themselves up for success if they master the method.
As we mentioned earlier, it requires a mastery of Candlestick charts in order to use them properly. The chart pattern is best used with the combination of other indicators and not by itself solely. Understanding the basics of support and resistance and applying risk management principles, including paper testing and backtesting the strategies, will hinge traders’ steps closer to better winning edges during trades.
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CryptoBlades previously announced the upcoming launch of its new installation called CryptoBlades Kingdoms (CBK). The new GameFi metaverse ensures that players of the CryptoBlades RPG have more potential to earn big.
According to CryptoBlades’ blog, CBK offers more value. Users who play CryptoBlades RPG regularly have the edge because they can transfer their progress to the GameFi metaverse to earn more $SKILL.
“Players who continue leveling up their characters in CryptoBlades by winning SKILL tokens and participating in in-game raids or beating powerful opponents will gain and build more robust characters,” the blog read. “The progress players make can then be carried forwards into the new CryptoBlades: Kingdoms.”
With this in mind, many users have already made significant steps in preparation for the GameFi metaverse launch, and the consequence is entirely positive. CryptoBlades still has to win over many fans who remain frustrated by the results from CryptoBlade’s first game iteration.
Some players already have the edge over their enemies due to participating in in-game raids or beating enemies, and they have built stronger characters. The progress made by these users can be carried into the CBK, making it more exciting to play as they obtain more significant rewards.
In addition, properties in the CryptoBlades game can be transferred to CBK. When gamers start playing the CryptoBlades RPG game, they have the opportunity to pick one four or five-star weapon and build their team around it. Many players have already built robust teams and are set to transfer them to CBK.
“Players who have been active on one game and created an arsenal of rare collectible items can now carry their progress in a greater crypto portfolio,” CryptoBlades wrote.
In essence, those playing the CryptoBlades’ game will be the biggest gainers when the new Decentralized Finance (DeFi) game series launches on the most popular GameFi ecosystem on Binance Smart Chain (BSC).
CryptoBlades is a web-based Non-Fungible Token roleplaying game launched on Binance Smart Chain. Like other NFT gaming platforms, CryptoBlades issues its native SKILL tokens to participants as in-game rewards. The game has received backing from significant names like Binance, IGN, and Steam. They are also a winner in the Binance Most Valuable Builder II program.
Aside from competing to earn SKILL, players can also forge unique weapons and trade them on an open marketplace. Players can also stake their earnings and obtain more SKILL rewards. The CryptoBlades team is decentralized with over 50 developers and a GitHub open for participation and bug bounty rewards to improve continually.
Where to find CryptoBlades:
RealFevr will look to build on its promising start after confirming its second Non-fungible Token (NFT) drop date, and also announcing a unique NFT of Cristiano Ronaldo’s first-ever career goal.
The official Medium announcement set the date of September 30th for the second drop at 14:00 UTC. Can the power of Ronaldo propel the NFT sales to new heights?
“The first-ever Cristiano Ronaldo goal in his professional career will drop officially and exclusively in RealFevr’s second drop.” RealFevr CEO Fred Antunes revealed exclusively to BSC.News. “It is one of the most anticipated moments in the whole of football history. As it will never be repeated again, there will only be one NFT of Cristiano’s first goal ever.”
With RealFevr having its roots in Portugal, the unique NFT consisting of the Portuguese hero, Ronaldo’s first goal is also likely to drive interest and price.
“If the Drop #1 "UNIQUE" #NFT was sold for $89k in our #marketplace, how much will the FIRST-EVER GOAL of @Cristiano Ronaldo be sold for?” RealFevr tweeted the relevant question, as the assumption is the price will sky-rocket this time round.
The prospective price of the aforementioned NFT may well skyrocket.
The model will work on a first come first served basis, with only $FEVR allowing you to get your hands on one of 37,000 packs.
Pack prices will vary based on whether you wish to purchase a ‘Basic’ pack with 3 NFTs ($15 in $FEVR), a ‘Rare’ pack with 4 NFTs ($75 in $FEVR), or a ‘Super Rare’ pack with 5 NFTs ($125 in $FEVR). Each pack has a chance of containing ‘Legendary’ or ‘Unique’ NFTs, with relevant probabilities listed here.
To allow to grab a pack, you’ll be able to purchase $FEVR at PancakeSwap (via BNB), Gate Exchange (via USDT), or UniSwap (via ETH)
RealFevr takes a multipronged approach to football fandom. It began as a fantasy football application in 2015 and has over 2.5 million downloads with 1.2 million registered users. The protocol is now releasing the first-ever Football Video NFTs Marketplace, powered by Binance Smart Chain. The protocol uses their $FEVR token as a Web 3.0 gateway to football’s greatest moments. The protocol is also a lending and borrowing protocol for fans to buy, sell, and profit from their collectibles.
Where to Find RealFevr:
Website - Twitter - Telegram - YouTube - Telegram (News)
Understanding these charts is key to becoming the most well-rounded, successful trader that you can be.
Understanding price actions starts with the understanding of entry-level Candlestick charts. A Candlestick chart forms the basis of technical analysis. Upon this knowledge, we can bring out important concepts like Support and Resistance, market trends, and price actions right from the chart.
As the name implies, this is a price action chart that involves numerous candles, which shows what the market is saying at a particular period. Unlike the other tools that indicate price action, Candlestick is way more comprehensive as they give the Open, Close, High, and Low price at a given instance.
OHLC, as they are called, is not placed statically on the candle as the location of each of these indicators is determined by whether the market is a Bearish(Sellers) market or a Bullish (Buyers) market.
For example, in a bullish candle, the “High” is placed at the top of the upper wick(or shadow), indicating the extent of the price before sellers stepped in. The Closing price is typically above the opening price, and the low of the candle is at the tip of the lower wick shows buyers strength when sellers attempted to push the price lower.
The opening price is typically above the close price for a Bearish Candlestick, indicating a declining price action. The High and Low indicate the attempt of the buyers to change the direction of the market trend.
The candle’s body is the point between the opening and closing price, and they indicate the strength of the dominating actors in the present market.
The colors of the candles are not cast in stone as they can be changed to trader preference. It’s, however, usual to see green used for a bullish candle, while red for a bearish candle. Traders also use other colors, including purple and blue, black and white, ash and brown.
The candles are given per period, meaning each candle on a 4-hour time frame indicates the market action for 4 hours; by lowering or increasing the timeframes, traders can see the market on a Micro or Macro level.
For example, tweaking your timeframe into a 1hr TF will zoom in your chart to split a 4hrs chart into 1hr candle each, giving you much more specific details of the price action for 4hrs.
Changing the time frame to a much bigger time frame, e.g., monthly, is now what we call zooming out, giving traders a broader perspective of the market.
Heikin-Ashi Candlestick is the modified version of the Japanese Candlestick, which has been expanded above. It uses the same concepts as the Japanese; the difference is that in Heikin-Aishi, the Candles are modified to give the average price. The main goal is to smooth out price action and filter out market noise, as traders can easily spot trends with this Candlestick type.
Depending on where these different candles are placed in the chart, they can give traders insight into what may happen in the market. Here are three more different types of candlestick patterns and their respective qualities.
The Doji is a single candle pattern and is neither bearish or bullish as Doji represents a state where the price closes precisely where it opened. For this reason, the Doji appears as a dash as it has no candle body.
Depending on where they are placed, hammer Candlestick may indicate trend reversals. This Candlestick pattern usually has a small body at the top or bottom with longer wicks at any of the two sides.
Hammer and Inverted Hammer: Same shapes appearing at the support region of a chart in a bearish trend indicating a bullish reversal incoming.
Hanging Man and Shooting Star: Same shapes as the Hammer and Inverted Hammer usually appear during a bull trend at the resistance areas in the chart, indicating an incoming reversal of the prevailing trend.
This typically involves a random and a bigger candle engulfing the smaller candle. As with the Hammer family, this depends on the area of support to indicate a trend reversal.
Bearish Engulfing candlestick appears in support with a big red candlestick engulfing the smaller green candle. Bullish Engulfing candle doing the same at the support zone, indicating a bullish trend incoming.
At every point in time, traders can look at the chart, place the chart in a Candlestick pattern, and grab a feel/perceptive of how the market is doing per time. With consistency, mastery, and application, a trader can correctly time the market, get accurate entries, and exit by understanding price action via Candlestick formations.
Candlesticks charts by themselves do not have a weakness. However, its weakness may come from the trader using it. For example, as with other technical indicators, Candlestick does not work in isolation. Even though the chart pattern tends to give an idea about the market per period, it works best with experienced minds that can extrapolate future trends as well as what is happening in the present.
A constant honing of the skills and mastering Candlestick will eliminate almost all possible weaknesses caused by human errors. This doesn’t mean traders will always make the right decision, but they will usually set themselves up for success if they master the method.
As we mentioned earlier, it requires a mastery of Candlestick charts in order to use them properly. The chart pattern is best used with the combination of other indicators and not by itself solely. Understanding the basics of support and resistance and applying risk management principles, including paper testing and backtesting the strategies, will hinge traders’ steps closer to better winning edges during trades.
