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The Closing of the Daily Candle

The Closing of the Daily Candle

Richard Krivo, Trading Instructor

Student's Question:I have a question about the daily candlestick. I always wonder what time exactly the candlestick will complete on the daily chart? It would be different from the candlestick shown in those traders' chart from different timezone, wouldn't it? If that is the case, then traders from different timezones may see different candlestick patterns on their chart?Instructor's Response:Regarding your first question, the Daily candlestick closes at 5 PM Eastern time each day. Since you are in the UK that would be 10 PM your time.No matter the time zone in which you live, the candles are live and a person in one time zone will see the same candle as the person who is in a different time zone. It is just that it will be at a different time in their respective time zones.For example, right now it is 5:13 PM in New York and it is 10:13 PM in the UK. However, we are both seeing the same Daily candle. What is happening right now in the market is what is happening right now in the market regardless of your time zone.There are numerous sites that can be found using a search engine that offer details on various time zones and how to convert from one to another.

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Forex for Beginners
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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.