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Namronette

1,529 Posts.

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16/06/17

21:52

Post #: 25328142
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Originally posted by Jako64 ↑

Yes that's right, it is a HLC (high, low, close) chart, as opposed to a more common OHLC chart (which includes the open).

In VSA and Wyckoff analysis, the open is rarely used (I can put it on the chart if I want to).
For the most part the open is only used in mathematical formula's for indicators, which I do not use.
The idea behind VSA/Wyckoff analysis is to interpret what the chart is saying about itself, by looking at the relationship between the high, low, close and volume, relative to the previous price action, and within potential support and resistance zones.

hope that helps.....

cheers

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Thanks Jako.
This stuff looks really interesting.
Appreciate all the effort you and others put into educating the masses.
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