DislikedMy question is regarding the weekly tf will you put your order before the market opens on sunday night (Friday closing price) or when the market closes on sunday night (Sunday closing price). When do the prices for the week really start?Ignored
It really depends on your broker feed and timings and timezones. For some ppl their brokers will open late on Sunday and close early on Friday. other will close late on Friday and will get back to business early on Monday.
regarding the placing of the order it's best to wait for Monday open (Even when you have a Sunday bar) to enter. The reason is that as Monday opens the liquidty is low and the markets will whipsaw around for a while before the regular traders step in to bet their prices. The second reason is Gaps. A trade on Monday open will often give you a better price in terms of a gap in your favor (which more often than not does get filled) or will hold you from a trade when the gap is against you. This is specially very important when you're a short term trader and 10 - 30 pips can be a trade won or lost.
Regards,
Ghous.
I believe . . .