Question on close/open vs high/low.
I am a beginner in the fx world and have been fortunate to join the J16 private group and keep an eye on this public forum.
Im working through some of Jaroo's stuff over on the private site but thought I could also ask a question here.
Jaroo's method focuses on identifying support vs resistance with reference to the close of a candle. I am just a little confused with this. Whilst working it through in my mind I cannot help but think that the close of a candle is somewhat irrelevant i.e. it will be different on every timeframe/broker. How can it therefore give us a definition of support/resistance?
I am a beginner in the fx world and have been fortunate to join the J16 private group and keep an eye on this public forum.
Im working through some of Jaroo's stuff over on the private site but thought I could also ask a question here.
Jaroo's method focuses on identifying support vs resistance with reference to the close of a candle. I am just a little confused with this. Whilst working it through in my mind I cannot help but think that the close of a candle is somewhat irrelevant i.e. it will be different on every timeframe/broker. How can it therefore give us a definition of support/resistance?