Minimal information; Closing Prices

[trendie]

The "price-action" posse would have you believe that Price is all you need to trade.
Fair enough.
Taking the O,H,L and C is as good a method as any.
This reminded me of something I read about ages ago, where they went even more strict, and just looked at patterns from Closing prices.
I think it might have been spanish89 and his "cats ears", but I wonder if anyone thinks patterns may be clearer, or that information can be gleaned from closing only.
I have used 1hr only here, as anything less is too random to be of any use.
4hrs is also good.

 

[Rhody Trader]

Personally, I think closes are only really useful when they represent a discrete cessation of trade - like stocks at the end of the exchange session. I don't think they are quite as meaningful in continuous action situations like intraday or in forex (aside from Friday).