Managing Your trades using TIME of DAY
Phrases such as: Technical analysis, Price action break, Trendline, etc., turn us on, but it's not that often we discuss POSITION MANAGEMENT and TIME of DAY.
MOST movement occurs during the 1st two hours of the European Session and the 1st two hours of the US session.
Price tends to STALL OUT, or PULL BACK right before the lunch hour, (European and US) and USUALLY continues SIDEWAYS through the rest of the session.
Around 30min./hour before the session starts is a good time to observe price action to determine if the movement is going to continue (which is rarely does) or is going to stall out or pullback.
Example:
I live in the U.S. and am waking up around the end of the lunch hour of the European session. Let's say I'm in a trade and overnight the asset goes as expected and I'm up 30 -60 pips. When I check the chart, I see the asset has hit a level and reacted (stalled or pulled back). At this TIME, I will most likely REDUCE my POSITION (LOCKING IN SOME PROFIT). I will not worry about FOMO (fear of missing out). If the asset passes the level and starts to move again with the U.S. session I can always add back to my position. If it reverses, (usually due to a news release) I have already taken some profit. If the asset pulls back to a level and the trade is still valid, I can add to my position.
Right before the U.S. lunch hour I will repeat this TIME ASSESEMENT.
There is plenty of discussion about technical analysis, fundamentals, and strategies, etc. but it's not that often we talk about MANAGING A POSITION, and how it relates to TIME OF DAY.
I warrant that the information created and published by is not prohibited, doesn't constitute investment advice, and isn't created solely for qualified investors.
Bruce Baines
MOST movement occurs during the 1st two hours of the European Session and the 1st two hours of the US session.
Price tends to STALL OUT, or PULL BACK right before the lunch hour, (European and US) and USUALLY continues SIDEWAYS through the rest of the session.
Around 30min./hour before the session starts is a good time to observe price action to determine if the movement is going to continue (which is rarely does) or is going to stall out or pullback.
Example:
I live in the U.S. and am waking up around the end of the lunch hour of the European session. Let's say I'm in a trade and overnight the asset goes as expected and I'm up 30 -60 pips. When I check the chart, I see the asset has hit a level and reacted (stalled or pulled back). At this TIME, I will most likely REDUCE my POSITION (LOCKING IN SOME PROFIT). I will not worry about FOMO (fear of missing out). If the asset passes the level and starts to move again with the U.S. session I can always add back to my position. If it reverses, (usually due to a news release) I have already taken some profit. If the asset pulls back to a level and the trade is still valid, I can add to my position.
Right before the U.S. lunch hour I will repeat this TIME ASSESEMENT.
There is plenty of discussion about technical analysis, fundamentals, and strategies, etc. but it's not that often we talk about MANAGING A POSITION, and how it relates to TIME OF DAY.
I warrant that the information created and published by is not prohibited, doesn't constitute investment advice, and isn't created solely for qualified investors.
Bruce Baines
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