Time of day affecting market reversals? | Forex Factory

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Time of day affecting market reversals?

  • #1
  • First Post: Jan 22, 2009 4:05pm Jan 22, 2009 4:05pm
I have heard or read that there are certain times of the day when the market turns around. For example, I'm told that New York likes to reverse the market when they come on. Same for Singapore, etc.

Is there any truth to this? Or is this just a trader's Urban Myth.. o_O

Thanks,
CH
  • #2
  • Jan 22, 2009 6:27pm Jan 22, 2009 6:27pm
Do you use MT4?
Living the adventure in my head.
  • #3
  • Jan 22, 2009 7:22pm Jan 22, 2009 7:22pm
Quoting charleyhanki
I have heard or read that there are certain times of the day when the market turns around. For example, I'm told that New York likes to reverse the market when they come on. Same for Singapore, etc.

Is there any truth to this? Or is this just a trader's Urban Myth.. o_O

Thanks,
CH
I have done all the math on this & have come to the conclusion that I actually don't give a F
{care} at what Time of Day I cover the groceries.
That's why I examine ALL my Trades from as many perspectives as I am aware of Before I Enter.


Gonna be tough to do all of that with due diligence on a 5Min Chart. Try it on a weekly... I'ts like putting Time into Slo-Mo
  • #4
  • Jan 22, 2009 7:23pm Jan 22, 2009 7:23pm
Quoting charleyhanki
Is there any truth to this? Or is this just a trader's Urban Myth.. o_O
If I told you it was true would you believe me ?

If I told you it was untrue would you believe me ?

Even if I told you the absolute truth it still wouldnt be of any use to you

Why dont you start backtesting, and then you'll know something of value
  • #5
  • Jan 22, 2009 10:16pm Jan 22, 2009 10:16pm
Time of day deffinatly affects the market, u would be wise to know the time zones for the market.
But i dont believe that reversals occur because I certain country wants to favour itself, if this what u getting at. Its all about price.
There are methods of trading the different time zones mainly breakout trading.
As said before its worth to look around and discover for yourself the truths about it.
  • #6
  • Jan 22, 2009 10:41pm Jan 22, 2009 10:41pm
Yes, Leon, I use MT4.
  • #7
  • Jan 23, 2009 2:34am Jan 23, 2009 2:34am
Quoting charleyhanki
Yes, Leon, I use MT4.
Look for the Isessions indicator, it can be used to highlight whatever period of time during the day you like. It makes it easier to study what happens at certain times.

That should help you out a little.

Leon
Living the adventure in my head.
  • #8
  • Jan 23, 2009 3:50am Jan 23, 2009 3:50am
Over a 24-hour period, volatility exhibits a pattern that correlates consistently with the opening and closing times of the markets in the US, Europe and Asia. Lowest volatility occurs during the lunch hour in Japan, when it is night in the US and Europe, and the highest activity occurs in the early European afternoon, which coincides with morning in the US. This effect is completely overlooked if the market is simply sampled at the same hour each day.
forexflash
  • #9
  • Last Post: Jan 23, 2009 4:02am Jan 23, 2009 4:02am
Quoting Razzle
If I told you it was true would you believe me ?

If I told you it was untrue would you believe me ?

Even if I told you the absolute truth it still wouldnt be of any use to you

Why dont you start backtesting, and then you'll know something of value
No, No, and No. I'll stick to what I believe and what I believe only, thank you. Then again, from the point of your post, that's what you want, because you want to stick to what YOU believe and what YOU believe only. Because of that, I wish you all the best.
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