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How to read candlestick charts

How to read the candlestick chart?

Forex Trading Sessions London, New York, Tokyo, Sydney

As long as you are acquainted with forex, the reasons for trading, and the main participants, it’s time to get closer to the best periods of trading. You will get useful info on various trading sessions, which will be a big help for you afterward. It’s clear that the market works non-stop, but there are some active and passive periods at a certain time. It’s possible to earn when there are some upside changes, but consequently, you can get profit if the situation is quite the opposite. If there is complete silence in the marketplace, it’s going to be extremely hard to gain some profit, that’s for real. You can be assured that the periods of total stagnation will come. We will teach you when it’s the best time for trading and how to move forward in this question.

The most active forex hours

Before choosing the most suitable trading time, we should be aware of the situation during the day. There are four main trading sessions on the market: Sydney, London, Tokyo, and The New York one. Here are the charts of the start and finish times for each of them.

Spring/Summer in the USA (March/April – October/November)

Local TimeEDTBST (GMT+1)
Sydney Open – 7:00 AM Sydney Close  – 4:00 PM5:00 PM 2:00 AM10:00 PM 7:00 AM
Tokyo Open – 9:00  AM Tokyo Close – 6:00 PM8:00 PM 5:00 AM1:00 AM 10:00 AM
London Open – 8:00 AM London Close – 4:00 PM3:00 AM 11:00 AM8:00 AM 4:00 PM
New York Open – 8:00 AM New York Close – 5:00 PM8:00 AM 5:00 PM1:00 PM 10:00 PM

Fall/Winter in the USA (October/November – March/April)

Local TimeESTGMT
Sydney Open – 7:00 AM Sydney Close  – 4:00 PM3:00 PM 12:00 AM8:00 PM 5:00 AM
Tokyo Open – 9:00  AM Tokyo Close – 6:00 PM7:00 PM 4:00 AM12:00 AM 9:00 AM
London Open – 8:00 AM London Close – 4:00 PM3:00 AM 11:00 AM8:00 AM 4:00 PM
New York Open – 8:00 AM New York Close – 5:00 PM8:00 AM 5:00 PM1:00 PM 10:00 PM

Real open and close periods are linked to the working hours in the regions given. The majority of them begin functioning at seven through nine o’clock in the morning. The start and finish times will change depending on the month because some countries (for instance, Australia, England, and the U.S.) switch to and from DST. The day of making such a shift is different for every country, which does not facilitate the situation. There isn’t such a thing in Japan, which is surely good for us. You are definitely curious about the two hours shift observed in the Sydney Open (in the Eastern Timezone). Sydney’s Open should have moved one hour at the same time when the U.S. adjusted for normal time. But it’s not that easy. The matter is that when the U.S. goes one hour back, in Australia, there’s one hour move forward (because of the opposite seasons). If you aim at trading this time interval, don’t forget to consider this fact. Between every trading session, there’s a time when two sessions are simultaneously open. Within the summertime, starting at three or four o’clock in the morning ET, for instance, there’s a crossing of the London and Tokyo seance. Meanwhile, within summer and winter from eight in the morning through noon ET, there’s a traversing of the New York and London seances. The periods mentioned are the most active ones within the trading day as long as there’s a bigger volume when the markets simultaneously function. It is logical because, just at this time, all the members of the market are on the top of the possible deals, which increases the amount of money circulating. Be very attentive regarding this fact. Have a look at the medium pip change of the chief pairs within every trading period at the forex.

PairTokyoLondonNew York

The London session gives the biggest changes judging by the chart. Look that couple pairs possess larger pip alterations in comparison with the other ones. Let’s consider every session more carefully, including the crossing intervals.