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Each candle covers one period of the timeframe you choose. The body spans the open and close; the thin wick above and below shows the highest and lowest price reached. A long wick with a small body means price went somewhere and came back — often where stop orders were taken. Our guide on reading candlestick charts covers the patterns worth knowing, and support and resistance explains why price turns at particular levels.
Shorter timeframes show more detail and more noise. A five-minute chart will present dozens of apparent signals a day, most of which are nothing. The daily chart shows fewer and they mean more. If you are deciding where to place a stop, measure it on the timeframe you intend to hold for — a stop sized from a five-minute chart will be hit by ordinary movement on a multi-day position. The volatility panel gives the average daily range for each market, which is the floor for any stop distance.