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So basically the close is more important than the open? |
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I would not necessarily add more weight to another. They are both important to understand market concept.
The opening price shows any changes in market conditions from the previous days close. If the opening price is higher than the closing price, we have a gap up and shift in market sentiment. The greater the distance between the close and the open, the greater the change in market sentiment.
You also need to consider if price has gapped above/below value and above/below the previous day's range. This indicates market imbalance. Therefore the opening price is fairly important as well.