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During the 24 hours period currency pairs in Forex market experience several hours, when the volume of trades is the highest and so is the pip movement. USDDuring the week the most active Forex trading days are: Tuesday, Wednesday and Thursday. Mondays are days when traders are mostly watching and analyzing the market and predict further price moves. Fridays are traded approximately till noon, after that all actions slow down and almost freeze before the actual market closing at 5 pm EST. The Authority’ on Price Action Trading. In 2016, Nial won the Million Dollar Trader Competition.
Since you have read part 1 and you now know which currency pairs to focus on and why, it is important that you understand when the different forex trading sessions are, how they differ from each other, and the best times and days to trade. It is true that the forex market is open 24 hours a day, but that doesn’t mean the market is active and worth trading for the entire day. The idea is to trade when the market is the most volatile, because volatility means that a market is moving, and money is made when the markets are moving, not when the market is quiet and calm. As a price action trader you should be especially excited about volatility, because price action strategies thrive in volatile market conditions due to the fact that they simply reflect the dynamics of price movement and provide you with easy to identify setups which allow you take advantage of volatility.