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Two separate things. Start with the walkthrough to learn the screen you trade on; the topics explain the trading behind it.
Two separate things. Start with the walkthrough to learn the screen you trade on; the topics explain the trading behind it.
Candle Arena needs the height to show a chart and your trade at the same time. Landscape on a phone is not supported yet.
Uptrend, Downtrend, Range, Breakout, Pullback, Reversal. First, a Range: price moves sideways between two levels, here 40.00 and 41.00. Each candle covers 15 minutes.
Price had stalled at 41.00 twice. Then a candle closed at 41.60, clear above it. A big candle that stays inside the range is not a Breakout.
The peaks rose: 42.00, 43.00, 44.00. The dips between them bottomed higher each time: 41.50, then 42.00. Both must keep rising. That is an Uptrend.
Highs 42.00 43.00 44.00 · Lows 41.50 42.00
Price dipped from 43.00 to 42.00, against the trend. It held above the last higher low, 41.50. Then it climbed to a new high, 44.00.
Last higher low 41.50 · Dip low 42.00
From 44.00, price fell to 41.00, below the last higher low, 42.00. The bounce stalled at 42.50, a lower high. The Uptrend failed and turned.
Last higher low 42.00 · Low 41.00 · High 42.50
After the turn, the peaks fell: 42.50, then 41.50. The dips fell too: 41.00, 40.00, 39.00. It is the Uptrend's pattern, upside down.
Highs 42.50 41.50 · Lows 41.00 40.00 39.00
Inside the Uptrend, the dip from 43.00 to 42.00 is a Pullback. Zoomed in, it is a small Downtrend. Shapes read the same on 1-minute, daily or monthly charts.
Naming the shape helps you decide whether and how to trade. Many traders stand aside in a Range. But no shape guarantees the next move.
From 44.00, price fell to 41.00, below the last higher low of 42.00. The bounce stopped at 42.50. Which shape is this?