May 6, 2011

3 Solid Questions on Forex Market - Part Two

3 Solid Questions on Forex Market - Part Two

To know when to trade is crucial. So we can preserve our mental and psychical fitness before entering any trade. 


Yes, I am talking about Forex Market Hours. A simple concept when understood will save your energy only for those rewarding moment in a day.

As a beginner, I have spent around 16 hours a day watching the market moves. Most of it was on the opposite direction with my entry. I live in Indonesia (GMT +0700), used to enter the market at 6am in the morning only to see EUR/USD going nowhere.

And, I had to loose appetite on my lunch to see how quick the market moves. Yeah, the European session started around my lunch time here in Jakarta.

What I remember from this experience is that, I started to see forex market chart in my dream. Damn!

Now I write this post to thank the website:

It has been around with me since 2008.

The Forex Market Hours v3.0 will give us the clue on what session we are. Whether it is Asia, Europe or New York.

The lesson are these:
  • The currency will move at a time when the people in that country are starting their day. (EUR and GBP will move on the start of London session)
  • Be also aware of the Opening/Closing of the Equity market
  • Around lunch time of the major country, the market usually reversed against its previous direction (retraced) and will likely to resume after a moment or so.
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About ArrowFX

Technically analyze the forex market mainly on USDJPY, EURUSD and GBPUSD by using market rhythm method started by Philip Nel on Forex Factory. The thread started on 2007 and still alive.
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