candelstich chart: what is resistance, the top of the candelstick wick or the close?

On what time frame? 5 min, hourly, daily, weekly? Which market?

It could actually be both. The question then becomes, "Which is more significant?" This is because S/R zones are "areas" or "zones", and not necessarily an exact number. It's not always that black and white. If you're measuring a fib retracement, then you have to measure the entire move, including the high and not just the close. When you enter the trade on a breakout, the current candle must close above the close of the resistance candle. But the breakout trade defies good trading strategy, sticks you with the highest risk possible and the lowest probability of success. So which number you use becomes a moot point if you're going to saddle yourself with huge losers.

Market maxim

Selling into weakness works 15% of the time

Selling into strength works 50% of the time

Generally, a resistance area coincides with a previous resistance area. So the answer for me is whichever lines up best with previous resistance. If you compare with shorter time frames, the correct level will be more apparent. If I'm looking for a lower high, then I have to use the highs.

It all depends on what you're trying to do. If you're trying to build an entry trigger, then you need an exact number, but you'll also need effective filters and trading strategy, and not just a number. You should develop the ability to recognize the difference between a sharp rally and a weak one. Buy on reaction after sharp rallies and not after weak ones and vice versa. You must plant this in your mind as an absolute to trading.

Trade moving markets and avoid dull sideways markets (W.D. Gann). This cannot be emphasized enough. You're looking for a prerequisite to movement that may be a strong open or gap open, or where market reports invalidate old data and changes trend or accelerates trend with a violent gap in prices, frequently setting the trading tone for the day and the market will close in the direction of the opening range breakout.

Others that have done excellent studies on opening range breakout and entry technique are E. Hadady, Larry Williams, and Toby Crabel. For instance, studies have shown that if a market moves 50% of the prior day’s range away from the opening, it is likely to remain in that direction for the balance of the day.

1

Depends on the color.

Candlestick shows starting, close, low and high prices. Additionally, if close is less than start, then the color is red. You need at least two successive candlesticks to tell the resistance.

OK

the highest resistance would be the top

It's a matter of opinion and what works for you. Just be consistent.

(I use the close).