Why the daily trend of a currency can be determinated at time of "EST 3:00-3:30"? | Forex Factory

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Why the daily trend of a currency can be determinated at time of "EST 3:00-3:30"?

  • #1
  • First Post: Aug 27, 2007 11:03am Aug 27, 2007 11:03am
Dear ALL in FF,

Why the daily trend of a currency can be determinated at time of "EST 3:00-3:30"?

Is it applicable to certain currency pair or all currency pairs?


Thanks in advance

Faith
Living needs faith!
  • #2
  • Aug 27, 2007 11:38am Aug 27, 2007 11:38am
Quoting Faith
Dear ALL in FF,

Why the daily trend of a currency can be determinated at time of "EST 3:00-3:30"?

Is it applicable to certain currency pair or all currency pairs?


Thanks in advance

Faith
What does this mean? Do you mean, can it be determined?

And do you mean 3:00-3:30 am or pm? 3:00am EST = 8:00am GMT or London opening which is the biggest currency trading center.

Although the London open along with Frankfurt opening one hour earlier picks up from the Far East trading centers the trend of a currency is determined by far more the just an opening period wherever in the world. New releases and how it has been trading in the preceeding days and weeks determine trend.
  • #3
  • Aug 27, 2007 2:00pm Aug 27, 2007 2:00pm
Quoting SunTrader
What does this mean? Do you mean, can it be determined?

And do you mean 3:00-3:30 am or pm? 3:00am EST = 8:00am GMT or London opening which is the biggest currency trading center.

Although the London open along with Frankfurt opening one hour earlier picks up from the Far East trading centers the trend of a currency is determined by far more the just an opening period wherever in the world. New releases and how it has been trading in the preceeding days and weeks determine trend.
Hi Sun,

Thanks you for your reply.

I had seen several times on this forum and elsewhere about the price range (or price direction, or candle ....) of EST 3:00 to 3:30 (GMT 8:00 to 8:30) can make a predicition on the price direction (or ....) for the remaining period of that day. And, I would like to know more about this kind of knowledge.

Faith
Living needs faith!
  • #4
  • Aug 27, 2007 8:36pm Aug 27, 2007 8:36pm
Well good luck. I don't believe the trend can be determined for the day based on a 30 minute period. But I am sure there are others who might convince you otherwise.
  • #5
  • Aug 27, 2007 10:46pm Aug 27, 2007 10:46pm
Quoting SunTrader
I don't believe the trend can be determined for the day based on a 30 minute period.
Agreed.

Certain consistent patterns happen around this time of the trading day as the london lads start to come into the market(6am GMT - which is when i think you mean), but they will by no means enlighten you on the trend for the day.

Your best bet is to look at statistics about a currency pair daily movement, and what the chances are if it goes a certain number of pips one way, that it won't reverse. Then take into account the average daily range of maybe the last 3 months. And bear that in mind when you're trading.

But bottom line to your question, i really don't think its possible.
  • #6
  • Edited 4:22am Aug 28, 2007 3:58am | Edited 4:22am
Hello Faith,

Do a search for "Big Ben" at StrategyBuilderFX. This is a strategy based on the European opens. There are some traders who trade this exclusively with success. There are plenty of posts around about it. I didn't seem to have any luck with it myself. See also the pdf file attached.

Have faith Faith and good luck ....
Attached File(s)
File Type: zip Big Ben strategy.zip   336 KB | 1,014 downloads
Good Trading to All ---- fairwind
  • #7
  • Aug 28, 2007 12:46pm Aug 28, 2007 12:46pm
Quoting fairwind
Hello Faith,

Do a search for "Big Ben" at StrategyBuilderFX. This is a strategy based on the European opens. There are some traders who trade this exclusively with success. There are plenty of posts around about it. I didn't seem to have any luck with it myself. See also the pdf file attached.

Have faith Faith and good luck ....
Dear fairwind,

Thanks you very much, and I will look into the details.

Faith
Living needs faith!
  • #8
  • Aug 28, 2007 1:39pm Aug 28, 2007 1:39pm
Hello Faith,

What you are talking about is the London Open Breakout strategy and under some specific circumstances is can INDEED hint out the overall market bias for the rest of the trading session.
  • #9
  • Aug 31, 2007 7:12am Aug 31, 2007 7:12am
Quoting WTB
Hello Faith,

What you are talking about is the London Open Breakout strategy and under some specific circumstances is can INDEED hint out the overall market bias for the rest of the trading session.
I see.

Thanks.
Living needs faith!
  • #10
  • Last Post: Aug 31, 2007 8:05pm Aug 31, 2007 8:05pm
Quoting Faith
I see.

Thanks.
I had noticed some time ago, That the G/J 1HR candle from 16:00 to 17:00
(5pm to 6pm EST) is bearish more than 50% of the time.
I had wondered about this for some time. One day an experienced trader told me the reason. Alot of traders, that are holding Long position on the G/J, will wait till after 5pm EST to cash in. In order to get the interest rollover.
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