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The Right Way To Hard Close: L24 HARD CLOSE 1 (Future Of Trading Course)

Feb 2, 2025

Lecture on Properly Closing a Canvass & Candle Analysis

Introduction

  • Discussion on the controversial topic of properly closing a canvass.
  • Common misconceptions and debates surrounding the topic.

Candle Closing in Trading

  • Importance of understanding candle structure in trading, specifically the top and bottom sides of a candle.

Key Concepts

  • Bottom Side of a Candle:

    • Crucial in confirming moves over levels or trends.
    • More accurate indicator of movement confirmation than the top side.
  • Top Side vs. Bottom Side:

    • Common mistakes involve focusing on the top side for confirmations.
    • Bottom side is a better determinant for confirming a move.

Confirming Moves with Candle Closes

  • Bottom Side as a Confirmation Tool:

    • Confirms the closure of smaller time frame candles.
    • Indicates progression towards closure on larger time frames.
  • Examples and Analysis:

    • Observations on hourly, 15-minute, and other time frames.
    • Importance of the bottom side closing for upward movement.

Case Studies

  • HoloTech Coin Analysis:

    • Illustrates how the lack of bottom side closure can stall upward movement.
    • Points when bottom side closes, triggering larger moves.
  • REN Coin Movement:

    • Example of larger time frame confirmations through bottom side closures.

Practical Application

  • Trend Lines and Levels:

    • Back testing of levels involves assessing bottom side closures.
    • Realization of gaining a level when the bottom side holds in back testing.
  • Breaking Trends:

    • Understanding when a trend is confirmed broken by the bottom side closure.

Community and Learning Resources

  • Encouragement to join trading discussion platforms and learn from experienced traders.
  • Options to support and contribute to the community through donations and subscriptions.

Conclusion

  • Effective analysis and confirmation of trades by focusing on the bottom side of candles.
  • Call to action for supporting the channel and engaging with trading communities.