----- đď¸High-Wave Candlestickđď¸------
đ The High-Wave candlestick is a single candlestick pattern characterized by a long-shadow with a small real body, reflecting high volatility and significant indecision. Unlike doji, high-wave candlestick has long upper and lower shadows, often dwarfing the body.
This candle forms during periods of heightened uncertainty where neither buyers nor sellers dominate. The open and close remain close together despite wide price fluctuations.
The High-Wave candlestick signals confusion and potential turning points. Traders see strong forces at work but no clear victory.
Confirmation is critical, requiring follow-up candles to reveal direction. Breakouts beyond the high or low of the pattern provide clarity.
At support, a High-Wave may suggest accumulation and potential reversal. At resistance, it may mark distribution and weakness.
Reliability is moderate, as it primarily signals indecision rather than a defined reversal. Still, it often precedes significant moves when confirmed.
Summery of High-Wave CandlestickPattern NameHigh-Wave CandlestickPattern TypeNeutral / possible reversalCharacteristicsSmall real body (â¤20% of range), very long upper and lower shadows (âĽ2Ă body size). Indicates high volatility and indecision.Preceding TrendAppears after strong uptrends or downtrends, especially near exhaustion zones.ExpectationMarket confusion; strong breakout expected soon.Trade Entry PointBuy-stop 0.1â0.3% above high (bullish case) or sell-stop below low (bearish case) only with breakout volume confirmation.Stop LossOpposite side of candleâs range.Price TargetUse candleâs full range for measured move; scale at 1.5â2R multiples. Trail under breakout swings for momentum capture.
PatternsWizard reports the High-Wave pattern confirmed 42% of the time across 4,120 markets in its tests.
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