The phrase “closed candle” has been cited many times recently in our LIVE on-line commercialism area webinars. So, the question begs asking…what could be a closed candle and why is it important? every chart has its own time-frame be it Daily, 4 hour, 1 hour, half-hour and then forth. every individual candle on any chart represents the time-frame of that chart. thus a candle on a Daily chart represents in some unspecified time in the future, twenty four hours of commercialism time. every candle on a thirty minute chart, as an example, represents half-hour of commercialism time.
At the top of the candle’s length, let’s say half-hour on a thirty minute chart, that thirty minute candle is taken into account to be “closed” and a replacement candle at once opens to right of it. it’s at that time that we might be ready to use that simply closed candle as a part of our analysis. till a candle is closed, we actually don’t apprehend what quite a candle it\ll ultimately end up to be (doji, engulfing, etc.) or at what indicate it’ll shut.
Therefore, we tend to cannot base associatively commercialism choices on an “open” candle. If but our dealer would solely short the combine if worth closed below one.3829, (in alternative words the body of the candle would be below one.3829 and not simply the wick) they might have however to be in a very single trade. they might have avoided the sturdy pullbacks that area unit evident on the chart. detain mind that coming into a trade supported an in depth above/below a support or resistance level doesn’t mechanically insure that a trade can calculate. It will but provide a larger probability of the trade occupation the trader’s meant direction.
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