CANDLESTICK FORMATION PSYCHOLOGY

📊Candlesticks visually represent the battle between buyers and sellers within a specific timeframe.

📈When Sellers Are in Control:
Bearish candles (closing lower than the opening price) this indicates good selling pressure. Long upper wicks show that buyers attempted to push prices higher but were overpowered by sellers. This often suggests a downward momentum in the market.

📉When Buyers Are in Control:
Bullish candles (closing higher than the opening price) reflecting buyers strength. Long lower wicks indicate that sellers tried to push prices lower but were outmatched by buyers. This signals upward momentum and strong demand.

🕯Candlestick formations like engulfing patterns, doji, pin bars etc provide deeper insights into market psychology and potential reversals.