Question about Forex:

[chaos]

Question about Forex:

Every day the market you are following has an open, high, low and a close
for the day forex are 24 hours .

I want to calculate Forex Pivot Points what times for trading session do
you use?

please give me the times for open and close (trading session ) in GMT of :

Euro/US Dollar
British Pound/US Dollar
US Dollar/Japanese Yen
US Dollar/Canadian Dollar
US Dollar/Swiss Franc
Australian Dollar/US Dollar

 

[s-a]

Hi Chaos,

I'm not sure if this is the right answer but my broker does a rollover every day at 1700 EST. For me, this marks a days worth of trading.

HG

 

[SGlenn]

Pivot Points

Hi there

Doesn't really matter as long as you use the same point every day. I would agree with the other posting that after 5 Eastern is probally the best time for an 'end of day'.

Cheers

SGlenn

Question about Forex:

Every day the market you are following has an open, high, low and a close
for the day forex are 24 hours .

I want to calculate Forex Pivot Points what times for trading session do
you use?

please give me the times for open and close (trading session ) in GMT of :

Euro/US Dollar
British Pound/US Dollar
US Dollar/Japanese Yen
US Dollar/Canadian Dollar
US Dollar/Swiss Franc
Australian Dollar/US Dollar

 

[Old_Bob]

The day starts when Tokyo opens (11 PM GMT)and closes when NY closes. (11 PM GMT ) next day. ITrading is continus for 24h/day

 

[fx globe trotter]

volume and times in forex

There's a pretty good explaination at here. It helped me.

 

[s-a]

The day starts when Tokyo opens (11 PM GMT)and closes when NY closes. (11 PM GMT ) next day. ITrading is continus for 24h/day

That is incorrect. The trade day starts when New Zealand opens which is GMT +13 during the summer months of the southern hemisphere.

MK

 

[nine]

Image from the gftforex site mentioned above

A rather nice explanation

 

[Straybow]

I think many charting packages use 5pm EST/EDT as the open and close of the daily and longer candles.

 

[s-a]

...

This is true on a Monday, when NZ is the first market to open, so NZ open on Monday is the start of the WEEK. However, most of the time when NZ get in to work during the week, the interbank market will still be trading for the OLD settlement date till NY go home (and that, rather than a strictly timezone based view of the day, is really what this wquestion is about).

...

GJ,

Your insights are always welcomed. I'm a bit confused by this. In fact I'm so confused I don't know I can formulate my question properly. I'll just start with something and maybe we can clear it up as I get a better understanding. What does the OLD settlement date have to do with the pivots? Are you saying they are using OLD open, high, low values with the current day still altering the OLD close? Is there any way to know for the average retail trader if the OLD settlement date was being used?

Many thanks for the deeper understanding.

MK

 

[chaos]

answer From FX Engines :





FX Engines to me
Hi -

We mark the close of our day at 3 PM EST, which is 8 PM GMT. The open is
then at 3:00:01. This is the case for all currency pairs we currently
support.

Regards,

 

[Straybow]

What is 1500 EST in your local timezone?

 

[fx globe trotter]

That is incorrect. The trade day starts when New Zealand opens which is GMT +13 during the summer months of the southern hemisphere.

MK

Certainly that depends of New Zeeland observes daylight savings time, since currently its GMT +12.

 

[Camelot]

Free Forex Pivot Points
http://www.mataf.net/en/analysis-pivot.htm

 

[commanderco]

17.00 EST is the best Close for the 24 hr market, with the Open being the next pip.
You can calculate Pivots if you want, personally I look at them only to see where the lonely
stops are likely to be lurking...yum yum.
GJ is correct when he says look at the other exchanges ... see what the Aussies can make of the AD
and what Tokyo can make of JY ... after all they are batting for the home side.

Goodluck, you are asking the right questions. Get your data sorted first.

 

[s-a]

Certainly that depends of New Zeeland observes daylight savings time, since currently its GMT +12.

Hello FX globe trotter,

That is why I had said the summer months. It is still GMT +13 here in New Zealand. We haven't switched off daylight savings yet.

MK

 

[cecja]

I have friends who work for City bank in NY and RBS in London both of them have told me that they use 10:00 PM GMT as a close for the forex (so it means 11:00pm British Summer time)
Also Tradermade.co.uk has a option for the 10pm GMT and also have found they daily high low prices as the best in the market.
I would recoment that if you are a serius forex trader have a look at the tradermade.co.uk

 

[commanderco]

I have friends who work for City bank in NY and RBS in London both of them have told me that they use 10:00 PM GMT as a close for the forex (so it means 11:00pm British Summer time)
Also Tradermade.co.uk has a option for the 10pm GMT and also have found they daily high low prices as the best in the market.
I would recoment that if you are a serius forex trader have a look at the tradermade.co.uk

Which product from Tradermade are you suggesting and what is the price

 

[cecja]

Which product from Tradermade are you suggesting and what is the price

I'm using tradermadeweb.

Right now i'm in the free trail , i have asked them for the price and they have told me it cost £50 per month,

 

[Texas_Hedge]

I'm using tradermadeweb.

Right now i'm in the free trail , i have asked them for the price and they have told me it cost £50 per month,

Cecja, if you want a good all round "retail" price feed. Go for Tenfore....

 

[cecja]

Cecja, if you want a good all round "retail" price feed. Go for Tenfore....

Hi Peter,

I have tryed Tenfore and it does not work with my trading system, they high , low prices are very bad, they receive many false qoutes, for example on 14th the lowest price for EURGBP was 0,6839 and with trader made .41 , so in other words if i had looked at tenfor,s low price i would have gone short EURGBP. To be honest £50 is expensive but i'm aware that Tenfore cost 150 Euros per month.

Cheers
Cecja