Observing the daily candle is essential for any trader — whether beginner or experienced — because it summarizes the market behavior over the last 24 hours, providing a clear and complete reading of price action. Here is a detailed explanation of why starting with the daily candle is so important:

📌 1. Macro view of the market

The daily candle shows:

Open, close, high, and low of the day.

If the asset had buying strength (up) or selling strength (down).

This helps you understand the predominant direction of the market before looking for trades in smaller timeframes.

⚠️ Example: If the daily candle shows a strong decline, looking for buys in smaller timeframes may be riskier.