dimanche 5 avril 2015
There is No Edge in a Single Candlestick
Posted on 02:21 by nice news
I see no edge in a single candlestick. Open price is the least significant price compared to High, Low and Close Prices.
Open price will get broken up and down several times in a candlestick lifetime, and is rarely respected.
Lows and Highs are the areas of interest to me. They represent possible future paths for price, when broken or respected, and all this in a formation of candlesticks, not a single candlestick which does not mean anything on its own.
This is the recent price action for GBP/USD H1 over the last 2 weeks. Which do you think is more important, open, or highs and lows ?
Attachment 1647081
Open price will get broken up and down several times in a candlestick lifetime, and is rarely respected.
Lows and Highs are the areas of interest to me. They represent possible future paths for price, when broken or respected, and all this in a formation of candlesticks, not a single candlestick which does not mean anything on its own.
This is the recent price action for GBP/USD H1 over the last 2 weeks. Which do you think is more important, open, or highs and lows ?
Attachment 1647081
There is No Edge in a Single Candlestick
Categories: There is No Edge in a Single Candlestick
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