not necessary,,.and not in favour of waiting. ... similar candle was there on EURUSD weekly two weeks ago. If I had waited.. would have missed the bus. on monthly and weekly timeframes I prefer to go with the flow rather than wait for closing
Agree with closing. Only fear is waiting for closing on weekly and monthly becomes a pain for me.. bcuz by then its oversold on daily most of the times and then there is a recovery before effect of bearish closing on monthly/weekly kicks in. Hence, I prefer to check only daily closing and go with the flow on monthly and weekly.
But completely agree.. better is to wait for closing