Quote:
Originally Posted by wolfe
Sounds interesting, but I've been wondering...
What's a bar in a given time frame but only a creation of man. Does the market really care where it "closes" it's bar? For the most part I think probably not. The market will do whatever it wants, whenever it wants, and could not care about bar time frames.
There must be a better way to analyze the market!
I haven't figured it out yet.  |
Hi wolfe :
as for the close of the bar you need to think of it as who win " bulls or bears" , that what matters to traders.
its like lots of other things in forex , for example the fib levels people tend to think these are entry and exit points, if you apply those levels on small time frames 80% it wont work and the 20% mostly luck, if you move to higher time frames the chance is that 60% it may work go to the daily chart or the 4h chart and the chance is that 70% it may work, the reason for that you need more people to apply those levels , and think there is an entry or exit.
Same with close of the candle , if you watch the price movement over time , you will see more people tend to place thier orders towards the end of the candle except for the news