Asian Accumulation Session
Jun 01, 2013 at 12:15
826 Angesehen
6 Replies
Jun 01, 2013 at 12:15
Would someone please explain to me the reason for the tight price action on the EUR/USD during the Tokyo session? I also noticed that without any news the closer it gets to London the price stops ranging and finally breaks in a decisive direction. Please help me understand. Thanks
Mitglied seit May 11, 2013
45 Posts
Jun 01, 2013 at 18:58
Hi
the overnight asia market is where the market makers keep the price trapped trading millions making small pips then London famous for stop runs and reversals to stop one side of traders out, trap the breakout traders then reverse the market into a trend up until the New York session where a correction usually occurs. London is more swing and intra day trading and NY being scalper choppy market where hedgefunds slinging millions around try to kill each other
the overnight asia market is where the market makers keep the price trapped trading millions making small pips then London famous for stop runs and reversals to stop one side of traders out, trap the breakout traders then reverse the market into a trend up until the New York session where a correction usually occurs. London is more swing and intra day trading and NY being scalper choppy market where hedgefunds slinging millions around try to kill each other
GiftedFx
Jun 02, 2013 at 06:31
Chris thanks for the run down on the different sessions. I noticed that as London approaches pairs will steadily head in one direction to either be bought up further or smacked down depending on how the FTSE futures and opening will be. I think the strong correlation between equities and forex is less clear now though unless it's the yen pairs. I tried trading these ultra-volatile pairs like EUR/JPY but I still don't get it really. Do you trade these? If you do how do you do it and not get blown out? Thanks for your reply.
Mitglied seit May 11, 2013
45 Posts
Jun 02, 2013 at 11:52
The entire market is like one giant story, to trade the yens I look at every time frame pre an entry into the market. The thing to realise is that yen weakness is NOT over by any long stretch, it may be currently overdone so even if there is a large correction (pullback) the BOJ will always be on the bid. USDJPY is and will go to 105, 110 and 115 over the coming year or so maybe sooner maybe it will take longer I do not know, but I assure you its going there. Another thing with the yens is wrapping your hourly candles each and every hour as they have a terrible habbit of breaking the hourly highs then reversing quite often.
GiftedFx
Mitglied seit May 11, 2013
45 Posts
Jun 02, 2013 at 11:52
here is a chart for you https://clip2net.com/s/5a09fI
GiftedFx
Mitglied seit May 11, 2013
45 Posts
Jun 16, 2013 at 05:59
A trader will never trade on just a specific timeframe, the timeframe should really be irrelevant. If you can read price action and bar by bar analysis then the timeframe number at the top means very little, it just means the higher up the timeframe the more powerful and stronger the signal is.
GiftedFx
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