Recognition Criteria:
1st The real body of the lamp is small. Its color does not matter.
2nd Either upper or lower shadow, or both shadows are long.
Explanation:
High wave as long legged doji indicates that there is a great amount of indecision in the market. This model is formed when prices trade above and / or below the opening price of the day, but then the price closes near the same level as the opening price. This means that the end result is not different from the initial open despite all the excitement and volatility during the day. The mean loss of sense of direction and that there is a great amount of indecision in the market. A group of high wave candlesticks signal a possible change in the market.
read more high wave chart meaning
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