Forex Session Times?

[hcour]

As FX is a 24 mkt, I'm wondering how it might be best to define the session period in my charting program (Sierra Charts). I ask because this would affect, I would assume, how some of the things I use as support/resistance areas are calculated by the charting program - VWAP, Pivot Points, Volume Profile Acceptance/Rejection areas, previous session highs/lows.

I've read some use 5:00 p.m. EST as the session start, ending at 4:59:59 EST. Is there a generally accepted session period? Do you think it makes a difference or should I just use 12:00 a.m. EST to 11:59:59 p.m.?

Suggestions, thoughts, comments appreciated. Thanks.

 

[fxmade2trade]

Since 90% of trades involve USD I find it good to stick with American time. High volume in US time is around 5pm. Next would be London's, then Tokyo. Yes timing is something you need to get very familiar with. It tells you when volume is http://fxtrade.oanda.com/analysis/market-hours

 

[tomorton]

I'm not an intra-day trader but I would suggest the biggest price changes in the shortest periods of time occur across the London Open, with lesser volatility across the New York Open. So if you value your time or its very limited, these would be your most effective screen periods. London is by a long way the largest Forex market including $: prioritise its main trading hours.

Other priority times for trades involving the $ would be Non-Farm Payroll and FOMC rate announcements, plus on some occasions the University of Michigan confidence score.

 

[fxmade2trade]

A Economic calendar is definitely something every trader should use and know, I totally agree