Times for good trading opportunities for the astute trader
Forexmentor.com Forex Trading Price ActionHoly guacamole! EEWWW! Want some bad news? Well, here it is – lower commodity prices, including oil and natural gas; soft economic news – weak July jobs report – unemployment up; tightening credit conditions: 2 hedge funds toast at Bear Stearns - read: credit concerns – credit crunch – worries about credit risk - traders in flight-to-safety – fixed-income markets worst in 22 years. Okay, had enough? Let’s move on to some more interesting stuff.
One of our members trades the AUD/JPY pair, exclusively during the Asian session, starting around supper time ET. He specializes in that pair, and does quite well at it. One of the things you will notice, more often than not, is the fact that price does a u-e (i.e., directional shift, or swing trade) in and around 18:00 hours.
Here, we’re talking about the end of the New York session, and the start of the Asian session – in other words, a change in trader sentiment. Market opens and closes represent good trading opportunities for the astute trader, who is out to grab his/her daily allotment of pips.
Other times revolve around the London session, as well as others too. So, keep a watchful eye out for these opening and closing times, so that you too can grab your fair share. Stay tuned for more of these goodies at: http://www.forexmentor.com/
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