I was just curious if the fx market had certain time periods that generally were high volume/volatility times for certain pairs, similar to the first 30 minutes or hour of the NYSE. Does anyone have any experience if many of the chart patterns on daily charts that work great on listed stock also work in fx? I am considering switching to forex from listed trading because of living in asia and the time difference. Before you guys jump down my throat and tell me to look at charts I was just hoping if someone else had made a similar move they might be able to forewarn me on problems I will encounter. Thank you very much in advance for any responses
Highest volatility starts from when Asia and europe overlap and ends few hours after europe and US overlap, that means for SEA countries it starts from 11 AM to 11 PM. peak times should be around 4pm to 11PM. Wih forex market you never know when major moves happens, keep your eye on next major economic data release like labor report (payrolls, unemployment rate and average hourly earnings), CPI, PPI, GDP, international trade, ECI, NAPM, productivity, industrial production, housing starts, housing permits and consumer confidence. http://www.eminimanfx.com/trading_guide_usd.htm For all patterns, they are same except for fx look into higher timeframe for clearer picture, and don't trade Spot forex because of slippage, stick with Cme Globex Fx products, tighter pip spread and better liquidity and excution for small size trader, they provide total intraday volume as well.