Daily, weekly, monthly, yearly open.

Openings are used as implied levels. It should not be confused with support and resistance levels, although they can act as such. To determine this, it is necessary to mark the level corresponding to the opening level of the candle (see Candlestick Construction).

Opening levels will be important for LTF management. Let's consider an example of using daily open on a downtrend move.

After the BMC and confirmation of the downtrend we are interested in recruiting a position above the daily open or at its level. Since the movement is downtrending, the price is expected to continue below the daily open.

On the LTF, the recruitment of a short position should take place in the area of the highlighted areas of blue.

In the case of an uptrend, a set of positions below or at the level of the opening should be considered. Exactly the opposite. The example of the daily opening was given selectively. Any other opening level (weekly, monthly, yearly) can be selected depending on the determining HTF positioning. The opening levels can also be used as implied local resistance support levels. This will allow applying them for management/position entry on the LTF.

Weekly opening shows SR level, after breakdown and fixation above which we can consider entry into long position. This factor can be interpreted as auxiliary and confirming the probability of price movement in a certain direction. The same should be used daily, monthly, annual opening levels.

During the consolidations, the price tends to be in the rank for a long time, during which the movement around these levels, as around the axis - alternate use as support, resistance levels. For a more detailed breakdown, see. ROS