No i couldn't explain it but have been using the two candle merge a bit recently an why the beer candles appeal as they take account of two candles .The part that interest me is say if you had a more continuous time frame say like forex over twenty four hrs for the candle to form perhaps ? Now i need check that is what happens in a daily forex candle it takes 24 hrs form ? Rather than a six hrs period an after market auction .
Seems correct the candle changes every hr on the daily so twenty four hrs for a daily candle .
Depending on the chosen time period each candle can hold different values. This way on the daily chart every candle will represent an hour, while on the 60 minute chart it will can represent as low as one minute of the time at the market. Based on this candles vary in size - the more the difference between closing and opening values the longer the candle is going to appear. In order to successfully learn how to read Forex candlestick chart every trader has got to start by getting comfortable with determining what each particular candle represents on its own. And then it will be time to explore a fun candlestick chart concept - the chart patterns.
https://paxforex.org/forex-blog/ful...nalysis-and-candle-pattern-trading-strategies.
- Forums
- ASX - Short Term Trading
- Short Term Trading Week Starting: 29 Aug
Short Term Trading Week Starting: 29 Aug, page-24
-
- There are more pages in this discussion • 136 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Featured News
The Watchlist
I88
INFINI RESOURCES LIMITED
Charles Armstrong, CEO
Charles Armstrong
CEO
SPONSORED BY The Market Online