Lecture on Properly Closing a Canvass & Candle Analysis

Introduction

• Discussion on the controversial topic of properly closing a canvass.
• Common misconceptions and debates surrounding the topic.

Candle Closing in Trading

• Importance of understanding candle structure in trading, specifically the top and bottom sides of a candle.

Key Concepts

• Bottom Side of a Candle:

  • Crucial in confirming moves over levels or trends.
  • More accurate indicator of movement confirmation than the top side.

• Top Side vs. Bottom Side:

  • Common mistakes involve focusing on the top side for confirmations.
  • Bottom side is a better determinant for confirming a move.

Confirming Moves with Candle Closes

• Bottom Side as a Confirmation Tool:

  • Confirms the closure of smaller time frame candles.
  • Indicates progression towards closure on larger time frames.

• Examples and Analysis:

  • Observations on hourly, 15-minute, and other time frames.
  • Importance of the bottom side closing for upward movement.

Case Studies

• HoloTech Coin Analysis:

  • Illustrates how the lack of bottom side closure can stall upward movement.
  • Points when bottom side closes, triggering larger moves.

• REN Coin Movement:

  • Example of larger time frame confirmations through bottom side closures.

Practical Application

• Trend Lines and Levels:

  • Back testing of levels involves assessing bottom side closures.
  • Realization of gaining a level when the bottom side holds in back testing.

• Breaking Trends:

  • Understanding when a trend is confirmed broken by the bottom side closure.

Community and Learning Resources

• Encouragement to join trading discussion platforms and learn from experienced traders.
• Options to support and contribute to the community through donations and subscriptions.

Conclusion

• Effective analysis and confirmation of trades by focusing on the bottom side of candles.
• Call to action for supporting the channel and engaging with trading communities.