Questions: Candlesticks opening and closing

Hi all,

Just a question, when will I know if a candlestick is about to open or close? Is there a particular time here in the philippines where a candlestick will open and close? Or it depends on the pair and timeframe?

Sorry, just working out on my demo game. Newbie trader here.

Thanks a lot in advance

Hello, and welcome to this forum.

It does not depend on where you are located. And it does not depend on the pair.

It depends on a key choice made by the broker you are using, when they set up their trading platform and charts (or leased their trading platform and charts from MetaTrader).

That key choice is: [B]When to open/close Daily candles.[/B]

Once that choice is made, most of the time-frames in the platform are affected.

The time-frames affected by this choice are: all the time-frames from H2 through Monthly. That is, H2, H3, H4, H6, H8, H12, Daily, Weekly and Monthly.

[B]Those time-frames (H2 through Monthly) will all be synchronized with each other.[/B]

That is, if your platform opens/closes Daily candles at 5 pm New York time (for example), then –

• All of the time-frames from H2 through Daily will open a candle at 5 pm New York time. Subsequent candles will open according to their respective time-frame intervals: every 2 hours, every 3 hours, every 4 hours … etc.

• The Weekly candle will open together with [I]the opening of the Monday Daily candle,[/I] and will close together with [I]the closing of the Friday Daily candle.[/I]

• And the Monthly candle will open together with the opening of first Daily candle in the calendar month, and will close together with the closing of the last Daily candle in the calendar month.

H1 (one hour) candles, and all lower time-frames (30-minute, 15-minute, etc.), open/close at [B]the same time in every trading platform,[/B] because hours begin and end at the same time everywhere in the world.

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Time of opening or closing candle depend on your time frame and time zone. Read more about Forex Market Hours. Convert philippines time, to time of opening and closing Forex Market Centers and you will know when is the best time for trading in your place. Candle just show price characteristic on your time frame, read at the babypips school about candle

Try to understand the 4 major session in the financial market and if it is possible read a book called japaneses candlestick by Steven Nison. It gives you valuable insight in each candlestick formation :slight_smile:

Hi,

The Candlestick open and close time is based on timeframe what you have chosen. If you chose 30 min time frame, for every 30 minutes new candlestick open and closed. Forex market works on 24/5. Forex market starts from Sydney session and ends on New York session.
- Jim