Hi all,
I ve got this question that has to do with candles and brokers.
Suppose I have two or even three different brokers I m trading with. Broker A, Broker B and Broker C.
Whenever i m looking into a candle price (open/close/high/low) on a chart on Broker A, on Broker B, the very same candle price differs.
Generally almost all candles have more or less different open/close/high/low prices on all three brokers. I know this is normal since there is no central forex exchange platform and each broker has its own exchange.
But as a result of this, i cant be sure when a new candle opens, if this new candle is an inside or an outside candle since on Broker A i have the scenario:
Candle 1 close: 1.43561
Candle 2 open: 1.43561
on Broker B scenario:
Candle 1 close: 1.43561
Candle 2 open: 1.43564
and Broker C scenario:
Candle 1 close: 1.43560
Candle 2 open: 1.43559
and so on. You cant even rely on candle patterns while they are forming but only after they are fully formed. But then in most of the times is too late to take a decision to enter or exit a trade.
So how do i handle this? Should i use candle patterns?(inside,outside,tweezers,dojis etc) or is it better to just ignore them?
Because i just cant stand and listen to gurus keep talking about candle patters etc but on a chart on that is already there.
TFs I m looking at are from 5m up to 4H.
Thanks
Athan
I ve got this question that has to do with candles and brokers.
Suppose I have two or even three different brokers I m trading with. Broker A, Broker B and Broker C.
Whenever i m looking into a candle price (open/close/high/low) on a chart on Broker A, on Broker B, the very same candle price differs.
Generally almost all candles have more or less different open/close/high/low prices on all three brokers. I know this is normal since there is no central forex exchange platform and each broker has its own exchange.
But as a result of this, i cant be sure when a new candle opens, if this new candle is an inside or an outside candle since on Broker A i have the scenario:
Candle 1 close: 1.43561
Candle 2 open: 1.43561
on Broker B scenario:
Candle 1 close: 1.43561
Candle 2 open: 1.43564
and Broker C scenario:
Candle 1 close: 1.43560
Candle 2 open: 1.43559
and so on. You cant even rely on candle patterns while they are forming but only after they are fully formed. But then in most of the times is too late to take a decision to enter or exit a trade.
So how do i handle this? Should i use candle patterns?(inside,outside,tweezers,dojis etc) or is it better to just ignore them?
Because i just cant stand and listen to gurus keep talking about candle patters etc but on a chart on that is already there.
TFs I m looking at are from 5m up to 4H.
Thanks
Athan