Im trying to follow a trading strategy that specify you to enter a trade at the candle opening in a 4h time frame. im new to forex never traded before this. im guessing when a new candle opens it is at most with a very tiny body that gradually build up to a longer body. but in my demo Oanda account when a new candle comes out it just pops up with a fair amount of body and the current price it shows is not the opening price.
is this how forex charts work is there any settings that i should change. the way it works for me right now is its very hard to enter a trade at a candle opening. any solutions or help regarding this is much appreciated.
thankz.
well, I am not sure I understand your question entirely…but I will try to help you. when looking at the candlesticks, you should be looking at the last candlestick that closed. i am sure that your settings are fine, the candlesticks are not necessaryily going to “be small” when they open, it depends on how volatile the price action is at that time. if it is very volatile, it can be moving quickly and make a big candle quickly…in that case, you definately want to pay attention to which direction it is going. but the “signal” should be from your last candle that already closed. are you using mt4 platform?
there is a thread on here called, price action for dummies (by nakitafx) that you should check out for learning about price action…and i would also recommend that you check out a website by nial fuller called learntotradethemarket (.com) or look him up on youtube, his website has GREAT info for free. he does run a pay for learning service, but i haven’t signed up for it. i was able to get tons of knowledge for free from his videos and articles. hope that helps to give you some direction. anyway, best of luck to you! :41: