Cable is completely not moving, probably due to the fact that Japan is closed and London won't be open either. Wonder if we will see any movements until US session.
Expected the unexpected
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DislikedHave you had any experience in the past when London market is closed but the rest of Europe is open? Is London the largest forex market in Europe?Ignored
Dislikedyes london is the largest forex market in the world not just europe, when london is close it's best to stay out during london/europe session, when london is close i tried to make some pips during u.s. session.Ignored
DislikedAny particular reason why London is the biggest forex market in the world? I don't think it's the biggest stock market in the world, is it?Ignored
Dislikedthe u.s. has the biggest stock market in the world, london runs the forex market, if you can answer why the u.s. has the biggest stock market in the world then you have answer your question why london runs forex.Ignored
DislikedWell it's not hard to imagine that the US would have the largest stock market in the world since it is the financial center in the world. But I still can't figure out why London has the largest forex market in the world.Ignored
DislikedThis article is quite informative on the subject
This IFSL paper is more recent
EXTRACT:
Main advantages of London as a centre for foreign exchange trading
- A central geographical location and position between the US and Asian timezones;
- Easy access to markets combined with a tradition of welcoming foreign firms;
- High quality professional and support services;
- Substantial physical assets, particularly office accommodation;
- Efficient telecommunications infrastructure;
- Concentration of financial institutions. London has more foreign banks than any other
centre.
- Perception of a proportionate approach in its regulatory climate;
- Use of the English language.Ignored
DislikedKeep an eye on the 1 hr for a Morning star to form, signs are pointing up so far.Ignored
DislikedYep, its a textbook example of a head and shoulders on the 1 Hr T/F. Trade it like you see it.Ignored
DislikedHead and shoulders patterns have a much higher chance of working out at the end of a trend which this one isn't. It's in sideways consolidation, just my 2% for what it worth...
AlexIgnored
DislikedHead and shoulders patterns have a much higher chance of working out at the end of a trend which this one isn't. It's in sideways consolidation, just my 2% for what it worth...
AlexIgnored
DislikedIm not sure of today that was pretty strong , maybe some consolidation where we are which may give a head and shoulders pattern?
I’m defiantly not an expert on patterns ,lol though I tryIgnored