Ok this is a rediculously basic question but I guess we were all ignorant at one point or the other.
I’m guessing that when you look at a particular time frame say hourly, then the candles begin or “open” at the begining of each hour. say the 3pm hourly open at exactly 3pm. Likewise for the 30min , 15 min and 5 min time frames.
But using US eastern time, my question is at what time do the daily candles open? is it at 8am US eastern time? and will that be same for all pairs?
also how important are candle patterns in analysis?
I’ve looked at the babypips school on candles but the only patterns i can see clearly in real charts are dojis and engulfing candles…do these really matter in anyones analysis or do you just look at your charts? thanks for any input and if possible show some pics of REAL (not ideal) candle patterns and how to recognize them when they are about to form.
EDIT: i started learning (and loosing) with forex.com but now i’m demo with oanda