im in agreement with one of the previous posters who said time is not respected by the markets,yes ofcoarse there going to be more liquid at certain points of the day.there are many traders sucsessfully trading without the need to study a chart from any time frame,the open ,high and low ,market sentiment ,and the release of news supporting this for entry.
i have a method of trading which also dosnt need any chart studies ,when all the currency pairs that i monitor are in synce and the indicies also supporting this agreement of overall sentiment.i look for a major pair which is not complying with the overall sentiment,or a pair which behaves momentarily against this,theres always a reason for this,news release and a overreaction ,a play often seen in cable,or just simply a large order .if studing a chart lets say 1 min ,many would associate this as a random move,but theres nothing random about it,theres always reason ,maybe just over reaction,but reason,ive traded these moves for years,somtimes 50 to a hundred pips in minutes,other times it may take hours,but it normaly conforms,i call these extreme mis pricings.on the occasions that these trades go against you,1 of 2 things happened,1 , your entry was premature,or overall sentiment is shifting and a overall reversal is comming.
i dont use any charts for these trades.
i do trade 1 min charts as ive said before,s/r because i enjoy doing so and its effective but requires emence concentration.
ps excuse my spelling,
regards
i have a method of trading which also dosnt need any chart studies ,when all the currency pairs that i monitor are in synce and the indicies also supporting this agreement of overall sentiment.i look for a major pair which is not complying with the overall sentiment,or a pair which behaves momentarily against this,theres always a reason for this,news release and a overreaction ,a play often seen in cable,or just simply a large order .if studing a chart lets say 1 min ,many would associate this as a random move,but theres nothing random about it,theres always reason ,maybe just over reaction,but reason,ive traded these moves for years,somtimes 50 to a hundred pips in minutes,other times it may take hours,but it normaly conforms,i call these extreme mis pricings.on the occasions that these trades go against you,1 of 2 things happened,1 , your entry was premature,or overall sentiment is shifting and a overall reversal is comming.
i dont use any charts for these trades.
i do trade 1 min charts as ive said before,s/r because i enjoy doing so and its effective but requires emence concentration.
ps excuse my spelling,
regards