Thread: Do you Believe in 4 hr/Daily bars?

There are certain daily trade.

The three are:
London time. (start both daily and 4 hourly at midnight)
New York time. (start both daily and 4 hourly at midnight)
Tokyo time (maybe not as great as the 1st 2 ).

Euro and Swissy time zone doesn't work since there are various time zones inside that zone, and banks across the zone open at irregular hours, depending on which nation.

Some of the euro zone banks actually open at the exact same time as the London banks, raising the importance of the London time.

Be sure you take into account day light savings of London and New York for the daily and 4 hour candles. At change over dates of october and march / november.

To add to more inaccuracy of trendlines, some brokers has additional daily candle(s) for weekends if anyone noticed earlier. Not sure how to overcome this to secure more accurate trendline drawn. Any time that is old care to share?

After being with IBFX for some time... I learnt that you are able to dismiss the little sunday daily bars that are made, if you're just analyzing the bars.

If calculating pivots etc.. .

END of week for weekly pivots, should comprise Sunday as the end of week and if a weekly weekly low is located there that should be included as well.
END of Friday for daily pivots, should comprise Sunday trading for its own calculations.

I believe that you could Think in Session (Asian, European, American).

Forgive me that the pun!

Lubo.

Originally Posted by ;

Agreed.



Please define season... do you imply seasons of the year, fiscal end of the year, or something different altogether?

These are the 3 sessions; Asia, Europe and NY (I only noticed I had written season). I.e I make sure to not open any position with gbp/usd during Asia since both Euro and US are shut. However, this isn't something new

I also keep an eye on how far a currency have moved during each semester. Should I wake up for Euro session to view Asia have formed a currency's whole average daily range during those 6-8 hours, then there is a great opportunity to see the market range during remainder of the day. Just one out of many bicycles that are highly visible on your chart.

It isn't the form or magical of those pubs that matter. It's the price action that occurs within them. A v-bottom is a v-bottom irrespective of what timezone offset you are using. Rejection is rejection, acceptance of significance is acceptance of significance. A down trend is a down trend, an upward trend is an upward trend. A swing high remains a swing high, a swing low is still a swing low.

The map isn't the territory. You've got to get behind the map to figure out the sentiment that's driving the market. Until then, you are fishing in the wrong pond.

Originally Posted by ;

During some recent gambling refection I found myself questioning the presence of 4 hr pubs and daily pubs. We all use difference brokers and live in different time zones and we trade Currency Market, but nevertheless, it would seem there is rarely an agreed upon time of day when 4hr or Daily pubs begin/end.

Different instances of the day have different meanings to every trader and every trader views his own standpoint as the most important. So who is to say any trader is wrong in valuing a certain time of day. Circular I know.

Here's my purpose.

Isn't the 1 hr...

I fully agree that the highest time frame that will demonstrate the same price action - candlestick or bar formation is your hourly rate. However IMO, the true Price Action itself in relation to prior highs / lows is much more important than the person pub / candle and may frequently be seen more clearly by falling into a decrease TF. Also, the loudness of the pub / candle is of fantastic importance,,,,,,but that's another matter!

Regarding trading intervals, the busiest hour by both transactions and volume is currently from 3am - 4am EDT / / 7am GMT - 8am GMT. At this time the Asian markets in Tokio, Hong Kong and Singapore remain open and each of the European markets have opened....Frankfurt, Zurich etc at 2am EDT / 6'm GMT aka the Frankfurt Open followed by the London Open an hour later at 3am EDT / 7am GMT.

Most major pairs will frequently have their daily highs / lows over ~2 hours of FO....

The issue does not arise if you do not use TF centered Bar.

Lubo.

Yes, I have been analyzing Igrok's techniques carefully myself and constructing session range indiors is producing great results.

Originally Posted by ;

These are the 3 sessions; Asia, Europe and NY (I only noticed I had written season). I.e I make sure not to open any position with gbp/usd during Asia since both Euro and US are closed. However, this is not something new

I also watch on how much a currency possess proceeded during every session. If I wake up for Euro session to view Asia have formed a currency's entire average daily range during those 6-8 hours, then there is a great opportunity to find the market range during remainder of the day. Just one from many cycles that are highly visible on your...

Originally Posted by ;

I think you could Think in Session (Asian, European, American).

Forgive me the pun!

Lubo.

No really did mean London and New York, because European session can occasionally indicate when the Eastern European banks are opening or if their midnight moves.

But, London means that you are going via British Standard Time (as well as their daylight savings throughout summer time ) and New York implies that their midnight, opening and closing as opposed to this LosAngeles and Seatle (USA West Coast) midnight opening and closing.

You will find that NY and London are significant because their day candles from midnight to midnight and their openings (8am) and closings (5pm) are more significant than West Coast USA and Eastern Europe. This is because they have most of the biggest banks and are by far the largest business centres in the world.

Rarely does Europe or West Coast USA create a significant shift in the markets since the trading day starting (8am) of the London and New York times do.