Forex Time Trading Strategy (II)
Dear Forex Traders
In previous article I wrote about start Forex trend time strategy and now I want write about the end time Forex trading strategy.
As I wrote before, you can trade in Forex market without price analysis; you can trade by just look at the time.
To understand more about this Forex strategy I want ask simple questions:
1- What time the Forex market will start daily trend?
2- What time the Forex market trend will stop?
3- What time the Forex market has more volatility?
4- What time the Forex market has low volatility?
To answer above questions we should focus on each currency pair specifically.
I want teach you this Forex strategy by an example.
GBP/USD currency pair this is my favorite currency pair for time trading.
I want answer the above questions on GBPUSD my answers is according to the +2 GMT Time.
1- About 09:30
2- About 17:00
3- Between 09:00-16:00
4- between 00:00-06:00
Well how I understand these times?
I have time analyzer software so you don’t need this software to analyze it.
To found your answer about above questions just look at the chart price movement and time, you can found the answer easily.
The important note is:you should review about 100 days to understand the best times.
Look at the below chart:
I highlight the different zone on the chart and market the time .
All you need is doing this with the past 100 days and note them then you can found the above answer on each Forex charts.
Now how you can earn profit at the end trend time?
It is very simple when we are in the end trading time you need just look at the daily trend if the trend was bullish you can send sell order and if the trend was bearish you can send buy order !
Your SL will be above the maximum daily price or below the minimum daily price.
You must be sure that the trend is finished, just by looking at the chart you can understand it, if market is bearish and at the end trend time market is on the minimum price yet you must wait till minimum 23% Fibonacci retracement if we had not 23% retracement or more after about 3 hours the market is not good for this Forex strategy.
It’s important that you check the Forex News and economic calendars to be sure that we have not important Forex news in the future hours if you found that there is important news during the next hours you should not do this strategy
So we should have a good daily trend on the day to use this strategy if the market trend was not clear (market go up and down both) you should not use this strategy
To understand my purpose I will show you a below pictures on GBPUSD:
Author: Mohsen J. From PipSafe Team
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