1. Candlestick basics
📊 Candle structure
Bullish candle, green or red: Close > open; price rose.
Bearish candle, red or blue: Close < open; price fell.
Body: The range between opening and closing prices.
Upper wick: The extension to the highest price.
Lower wick: The extension to the lowest price.
2. Volume
Volume appears as bars below the chart. The source interprets higher volume as making a move more credible.
3. Moving averages
- 20-day average: Short-term trend.
- 50-day average: Medium-term trend.
- 200-day average: Long-term trend, considered the most important here.
- Price above the 200-day average is bullish; below it is bearish in this framework.
4. Trend lines
Identify direction with an ascending trend line connecting lows and a descending trend line connecting highs.
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