Closing hour is usually considered the most important hour in financial markets. Take for example the AUDUSD. For traders who trade AUDUSD, what is considered the closing hour for AUDUSD? Is it 1300hrs-1400hrs in Australian time which is same as Australia stock market? Use the closing hour of stock market as a guide? Or should we take it that there's no closing hour for forex since it trades round the clock? Every hour is equally important?
Google can help you a lot. For example: http://www.forexmarkethours.com/ Forex does trade around the clock. But not all hours are equally important.
Thank you for the link. A reasonable time frame to use will by closing hour of Sydney session, particularly when it is also overlapped with Tokyo session. In other words, the best closing hour for AUDUSD should be 1300hrs-1400hrs in Australian time or 1:00: am - 2:00 am EST
I don't think you can really take a closing hour for something like that because volume will rise again when the US markets open. Generally for forex they divide it into segments, Asia open/close, Europe open/close, London open/close, US open/close
Well it is generally said that the Forex is a 24 hours open market but it is not true, the market takes a break usually of 5 minutes say 12:00 GMT close time and 12:05 open time, and that is where the swap is charged, to check the specific time of closing and the opening of the market for a particular currency pair, you can go to the instrument specifications on your trading platform.
When trading Forex, a market participant must first of all define whether high or low volatility will work best with their individual trading style. If price action is more important, trading, the session overlaps, or just ordinary economic release times might be the preferable option.
practice action is more important and really supportive to predict the real faction of this market with certainly. but need a long term practice about that.