Student’s Question:So how long is long for a wick? With that chart shown above there were quite a few long wicks. Should you be looking for an extraordinarily long wick which occurs at support levels etc? Or are in line with other indicators?Instructor’s Response:Generally, they are wicks that are long relative to others on the chart.The long extended wick at either end of the candle indicates that price action traded to that level but could not be sustained…buyers won over sellers or sellers won over buyers but, either way, the price level could not be held. In that case, there is a very strong probability that price action will move in the opposite direction of the long wick. As you suggest, when long wicks occur at levels of support/resistance, they can be quite powerful trading tools.See the historical GBPAUD chart below for a visual...
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