last bar close after new candlestick appear this is trade timing


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last bar close after new candlestick appear this is trade timing

readers message

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Hi Long am i right in saying that you said only trade when the markets close.
ive just been onto my broker and they close at 22,00 on friday night can you explain a little more.
kind regards

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for example
forex broker oanda
here is
candles aligned to the New York close: “OANDA ? GMT+2 Live.”
The existing OANDA MT4 server is named “OANDA ? GMT-5
this means each candlestick bar close GMT-5 every day
except saturday and sunday

The bar is composed of high, low, open, and close.
The rectangular portion of the bar is considered as the “real body”,
this represents the range between the candle’s open and close.
When the real body is black this indicates that the open is higher than the closing price of this period.
Conversely,a white real body indicates a bullish tone with the close being higher than the open of that period.

If there is no shadow on the upper end of the candlestick body, it means that the close price  or the open price

but closes lower than the opening price this is placed on the candlestick chart as a candlestick shooting star.

daily candles that begin and end at midnight GMT, which corresponds to 7pm New York time. However, we have received feedback from many clients requesting that we change the time zone on our MT4 servers, so that the daily candles begin and end at 5 PM New York time. To phase in these changes, we have started by updating some of our MT4 demo servers to test that everything works smoothly, before we proceed with updating our live MT4 servers.

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last bar close after new candlestick appear this is trade timing