I always pay attention to candestick wicks, heres why

So, I created this thread because many beginners i have interacted with seem to think candestick wicks hold zero value, and I think that notion is wrong. I will be discussing why candlestick wicks are valuable parts of technical analysis, and how I use them to have an edge on the charts.

PS: If you dont agree with me you can prove me wrong here, I am just posting what works for me but I will like to hear other views on this subject.

Some WIcks Are More Important Than Others 🦁

Okay, trader quality number 1, I think you need to have an "eye for wicks". Please look at the chart I attached, although there are several wicks on different candles, one wick stands out conspicously.

I mean if this were a fashion runway walk and you were a scout, would you be able to spot the hottest wick? Now back to the subject, I am going to explain why I took special interest in that special wick in the image.

if you take your line drawing tool and extend a horizontal line from the tip of the wick across the chart, you will notice that it went ahead to act as a support level at 1.16050.

Look at this chart, there is a wick that stands out and drawing a blue horizintal line across the tip of the wick reveals price reversed upwards at the wick level of 1.15982.

This morning I spotted another wick at price level 1.16546 which is acting as support preventing price from dropping below it.

I spotted another wick at 1.1658 and if you follow the trace of the blue arrow line, you will notice a bullish engulfing pattern formed at the 1.1658 level resulting in an upward rally

Disclaimer:

At MyTradingLand.com, we connect you with forex brokers and provide a community for traders. While we offer valuable information and resources, please note that we are not financial advisors and cannot provide personalized financial advice. Always conduct your own research and invest responsibly.

Community Guidelines: The MyTradingLand.com community is designed as a resource for forex traders, promoting respectful and constructive discussions. We reserve the right to remove any content that is misleading, abusive, or violates our terms of service.

Broker Information: While we may receive commissions or advertising income from some of the brokers listed, this does not imply an endorsement of any broker, nor does it affect our review process. Our evaluations are based solely on objective criteria and user feedback.

Always verify the regulatory status of any broker with your local financial authority, along with their terms and privacy policies, before engaging with them. It is crucial to conduct thorough research to ensure that you are making informed decisions.

Risk Warning: At MyTradingLand.com, we strive to provide accurate information; however, the forex market is highly volatile and can change rapidly. It is essential to verify any information before making investment decisions.

Please be aware that trading in forex involves substantial risk, and it is possible to lose more than your trading equity/investment capital. 70-90% of retail CFD traders incur losses in their trading activities as per information from various brokers.

You are solely responsible for your use of MyTradingLand.com and any trading decisions you make. We encourage all users to educate themselves thoroughly about forex trading and to consider seeking advice from qualified financial professionals.

Advertising Disclosure: We may earn commissions from recommended brokers, but our reviews are independent (not influenced by potential earnings). Sponsored content is clearly marked and doesn't reflect our views.

©2026 ©2025 All rights reserved Mytradingland.com