Forex forum Is the Best Place to learn more about forex trading time frames.
The foreign exchange ("forex" or "FX") currency market is not traded on a regulated exchange like stocks and commodities. Rather, the market consists of a network of financial institutions and retail trading brokers which each have their own individual hours of operation. Since most participants trade between the hours of 8:00 a.m. and 4:00 p.m. in their local time zone, these times are used as the market open and close times, respectively.
First-time forex traders often get caught up in the thrill of trading 24 hours a day five days a week—after all, logically, the more time you have to trade, the more opportunity there is to experience success. And with COVID-19 re-energizing the Forex market, and key data points signaling the strengthening of the U.S. dollar (as well as other safe-haven currencies) in the long run, there is more reason than ever to be excited.
Here are some Time Frames:
1. Position trading time frames
Many new traders tend to avoid this approach because it means long periods of time before trades are realized. However, by many accounts, trading with a shorter-term (day trading) approach can be far more problematic to execute successfully, and it often takes traders considerably longer to develop their strategy.
Position trading (longer-term) approaches can look to the monthly chart for grading trends, and the weekly chart for potential entry points.
2. Asian Market Time Frames
The most important of them is the New York, London, Sydney and Tokyo sessions, which span over different time zones, making the Forex market active 24 hours a day, 5 days a week.
Generally, if you're looking to trade Asian currencies and cross-pairs that involve the Australian dollar, New Zealand dollar or Japanese yen, you could do so during Asian trading sessions (Sydney and Tokyo).
3. Trading forex during the New York session
The New York session has the biggest overlap with the London session, so the GBP/USD cross can be highly liquid. The New York session is the last trading window to close on the 24-hour forex trading clock, and it often experiences high trading volume, as traders seek to squeeze the last bit of profit out of that trading session's news announcements.
Many USD crosses experience their highest trading volumes during the New York session, and this represents a considerable slice of the forex market with USD included on one side of 44.15% of all daily forex transactions.
4. The American Time frames
At 13:00 GMT, the New York session opens at the same time as the London session. With the combined participants from both the London and New York sessions, volume and volatility are generally increased.
At 17:00 GMT, the London session draws to a close, and then New York trades by itself until the Asian session opens again.
5. The Australian Asian Overlap: 9:00 PM to 12:00 Midnight
This is the period during which the New Zealand and Australian markets overlap with the Asian markets of Tokyo, Singapore and Hong Kong. This time period tends to have the most liquidity for the Australian and New Zealand Dollars and their crosses.
Trading in Australia and New Zealand overlaps with Tokyo from 7:00PM and then with Singapore and Hong Kong from 9:00PM until Midnight when New Zealand closes and 1:00AM when Sydney closes.
The Best Time To Trade Forex:
The Asian session starts from 6 PM to 3 AM Eastern Daylight Time (EDT).
The London session starts from 3 AM to 12 AM Eastern Daylight Time (EDT).
The New York session starts from, 8 AM to 5 PM Eastern Daylight Time (EDT).
The Asian session starts from 6 PM to 3 AM Eastern Standard Time (EST).
The London session starts from 3 AM to 12 AM Eastern Standard Time (EST).
The New York session starts from, 8 AM to 5 PM Eastern Standard Time (EST).
Everything's all pushed back by an hour during this winter period, so please bear this in mind.
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