previous days close

[Iqbal]

I am new to forex trading and would like to ask the moreexperienced traders a question.

What relevance does the previousdays close have on intraday trading regarding support/ resistance ?

Thankyou in advance.

 

[Rhody Trader]

Some traders focus a lot on closing levels in determining support/resistance. Others, however, focus more on highs and lows.

The difficulty with forex is the 24-hour nature. The "close" is a rather arbitrary time each day since the market doesn't really close, except on Friday.

 

[spunkyblonde]

4 me the closeing price tells me who had controll at the end of the tradeing day .. eg ..sellers buyers ... or nobody ..(flat close)..equally i like to see who controlls the open price ...

 

[schoe]

4 me the closeing price tells me who had controll at the end of the tradeing day .. eg ..sellers buyers ... or nobody ..(flat close)..equally i like to see who controlls the open price ...

Mr or Mr's Blonde. I woke up today to see you had replied to no more than 15 threads writing a couple of lines that didn't say anything of any relevance about anything.

Why not write quality rather than quantity. Or maybe you are having a competition with yourself to see how many spelling mistakes its possible to make in one sentence.