I have study in pipsology through “Design Your Trading System in 6 step” then I found the word “wait until a candle closes before entering” .Does it mean I have to wait until it close then I can enter the trade or this phrase means any indicator?
I haven’t seen the source you’re quoting, but it appears to mean exactly that; yes.
Sometmes the reason for that, especially if you’re dealing with indicators and using them as a signal to enter a trade, is that the display of the indicator becomes fixed only on the closure of the candle, and while the candle is still active the indicator may change (sometimes a lot: for example, in the case of a PSAR dot, it may still move from above to below the price, or vice-versa, until the candle actually closes). This is called “repainting” of indicators.
Sorry, I’m not sure what you’re asking, here (but I’m hoping my answer to the first question has clarified it, anyway.)
Really appreciate for your answer that’s what I asked for
Yes, that mean that you have to wait the session to end before you enter a long or short position. For example, if you are trading an exit of a trading range, you need to identify a close candle above or below the boundary before to enter into the market.
For the [B][U]session[/U][/B] to end?! Why do you think it means that, Gerhardt? :o
Most of the times I am waiting for the session to end if there is a breakout before I enter the market. So, the price confirms my thought. However, if you believe it would be too late you can place a sell stop order and when the price exists the price level that you want then place the order.
Fair enough … but not what the OP was asking about, at all. :33: