Hi All,
I've been practising candlestick trading on Forex with daily candles and noticed that you get different results if you use a US based broker’s MT4 like FXCM-US to a European based broker like Alpari-UK.
The time difference between these two brokers’ MT4 servers is 7 hours. So, for day candles [open-high-low-close] figures vary which result giving different signals for candlestick trading based on daily candles.
I was going to ask which time zone is the best for the open and close for a trading day but on the other side I’m thinking for different pairs that will change as well (like EUR/USD - western and AUD/JPY - eastern), any thoughts??
cheers,
mem
I've been practising candlestick trading on Forex with daily candles and noticed that you get different results if you use a US based broker’s MT4 like FXCM-US to a European based broker like Alpari-UK.
The time difference between these two brokers’ MT4 servers is 7 hours. So, for day candles [open-high-low-close] figures vary which result giving different signals for candlestick trading based on daily candles.
I was going to ask which time zone is the best for the open and close for a trading day but on the other side I’m thinking for different pairs that will change as well (like EUR/USD - western and AUD/JPY - eastern), any thoughts??
cheers,
mem