Hi guys, whats your opinion about trading on mondays ? Given the 24 hrs nature of forex, lets say the japan monday open to US monday open. Do you find mondays a little harder to trade? Personally I avoid mondays as I find many false signals and price tends to be more violatile with or without the presence of news events besides price action being totally flat at times. For me mondays are where I watch the market and waits for the market to warm up. I trade JPY crosses mostly, would like to hear your experiences on trading on the first day of the week. Many thanks in advance AML
I've found mondays to be very quiet - the spreads stay wide until around midday (Australian EST GMT+10) as the UK & US markets are still enjoying their weekend. When they do start to party, they very often overcorrect from the excess of the friday close!! In all, I stay clear of mondays until well into the UK open (midday GMT). Good luck, Bill..