For any trader out there with a bit of experience with technical analysis for any other market such as equities or crypto then you will already be familiar with candlestick charts.
Candlestick charts have been around for many years and traders like to view them to quickly gage price trends and volatility on a daily basis, weekly basis or even hourly or every 15 minutes for the very active trader.
So today, IndexGain are pleased to launch our new BuzzPro Candlestick Player Price Charts report for all premium members to use.
Here’s what a candlestick chart looks like….
Each candlestick displays the price action for the time period you are viewing…if you’re viewing 1 day candlesticks then it’s 1 day price action.
You can select candlestick sizes from the following options:
When you hover over each candlestick, you’ll see a call out which displays the opening buy price, closing buy price, highest price and lowest price for your chosen timeframe.
In the above example, looking at the price of Jadon Sancho on the 15th of April 2019, you can see he opened at £5.48 and closed on £5.73 – that’s some rise!
However, during that day, he did reach a low of £5.46 and a high of £5.80 – that would be an awesome day trade if you timed it perfectly. Sancho went lower than his opening price at 12 midnight but ended on his highest point at the end of the day at 11.59pm.
Let’s take a look a player who has been trending for a few weeks now….
It’s fair to say, reviewing players who have had a non-stop rise for weeks will at some point pull back as traders bank the profits – but timing the sell is crucial. From here you can now zoom in to the last 3 days where the selling began.
What was the low price for the day and where did it close?
Was the high price on the 2nd day lower than the low price on the previous day?
This is a super way of finding out if a dip is being bought up.
Let’s take a look at another example where a price could be at the bottom….
This player opened at £1.41 and closed at £1.37. However, the lowest price on this day was £1.33 – which means that he was bought up at the price of £1.33. This could indicate that this is the price point at which traders start buying in. And you as you can see, the price didn’t reach that low again on the next day either.
Good time to dip your toe in the water.
We’ll do some case studies soon so stay tuned for some analysis over the next few weeks.
You’ll also notice a time frame slider at the bottom of each chart – length of the bars represent the rise or fall in price on that day. By clicking a date on the slider and clicking on your end date, you can zoom in to a specific timeframe of your choice and just view the candlesticks for that period only.
So, if you’re a premium member, go and start analysing the candlestick price reports for the players in your portfolio – or players on your watchlist.
If you’re not a premium member of IndexGain then check out why you should join or upgrade here.