DislikedStudying your charts Lum....Not clear on why there are two lines labeled "high" You can read your charts, but I can't. Just read your pst. When you refer to the US open...What time of day-East Coast Time? I ask because I typically am in front of the screen at 6 AM which is 9 Am NY time.To me that is the New York open. (Actually 9:30 AM Eastern)Ignored
We know that the Financial Markets operate on a 24/5 basis. It is widely accepted that the trading Day and Week, officially ends with the Close of business at 5PM New York time.
It doesn't matter if New York is on Daylight Saving time or not. It's still 5PM there, so the Trading Day officially ends then.
A Broker who provides "New York Close" charting platforms will have the last Hourly candle of the Trading day showing on the charts with a start time of 23.00Hrs. ie. The last Hourly candle in the 24 Hour trading day.
SO, the VERY next Hourly candle to open, will be the first candle of the NEW trading day, and will have a START time of 00.00Hrs.
This candle will open with the Market Open in either Christchurch New Zealand...or...Sydney Australia. This is widely accepted as the start of the New 24Hour trading Day.
Where the New day opens really doesn't matter, but it is officially the start of the New Trading Day.
Not sure if that will help anyone. Just thought I would put it down just in case.
Cheers
Michael
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