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Does the closing of a candle matter?

  • Post #1
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  • First Post: Aug 1, 2009 5:24am Aug 1, 2009 5:24am
Hey!
I was thinking about the strategies which rely on candle closing (or consider it).

Im rather new at Forex, but since when a candle closes on a certain timeframe, it is still open on the higher and maybe in the lower too, does it really mater? Does it mean anything?

I gues that is only used as reference, isnt it? (If we dont consider other events such as markets closing at that exact time etc etc)

What do u think guys!?
Quoting Armagedoom
Hey!
I was thinking about the strategies which rely on candle closing (or consider it).

Im rather new at Forex, but since when a candle closes on a certain timeframe, it is still open on the higher and maybe in the lower too, does it really mater? Does it mean anything?

I gues that is only used as reference, isnt it? (If we dont consider other events such as markets closing at that exact time etc etc)

What do u think guys!?
A candle is only a representation of price movement from one moment to another moment.

What it means is not what is important. What is important is many traders and their systems fire off orders at candle close/open. Sometimes you can exploit this for gain.
Wow good point, hadnt thought of that!
Thx!
Of course, the closing of a candle represents one candle of an entire chapter of trading activity for a given pair. Combining candle closing/spread/volume will help to enhance your trading immensely. Learning to decipher those 3 things is the key to trading the forex successfully.
  • Post #5
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  • Last Post: Aug 6, 2009 10:01pm Aug 6, 2009 10:01pm
Quoting nyse1982
Of course, the closing of a candle represents one candle of an entire chapter of trading activity for a given pair. Combining candle closing/spread/volume will help to enhance your trading immensely. Learning to decipher those 3 things is the key to trading the forex successfully.
That is merely an illusion, Mate.
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