Important: Are You Using The Correct Forex Charts ? (must read)
Are you using a true 5 day new york close forex chart? Read this article to find out...
Important Message - Are You Using New York Close Forex Charts ?
Hey Michael, it's Nial here ...
This is an important message about using the correct forex charts to trade my price action strategies. Many of you are using a broker that probably has the 'wrong' charts, and it's big problem... you can read more about this here.
Here's the problem in a nutshell... myself and other professionals use 'New York Close Charts'. This style of chart shows 5 true daily bars with the 'open and close' of the price bars falling in line with the New York trading session. Sadly, many of you are using GMT charts or charts with 6 daily bars. (both these charts are wrong and will create problems). I wrote an article on this problem here.
You can't possibly see the correct price action signals without having a true 5 day chart which closes and re-opens in line with the New York trading session. This is the same style of chart that professionals use to trade and you need to be sure your looking at the same price data to accurately analyze the price action.
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