May 22, · I live in the worst place for forex trading - USA. I work during the day and the only time I have for trading is asian session, which is the worst. Most of the moves during asia are fake and I feel like there is only one single way to trade it. Scalping on 5min or 1min. I don't think there is any other way to trade asia The trading rules for the 20 pips Asian trading strategy are really simple: At least 1hr before the London market opens, you need to identify the highest high and lowest low of the Asian trading session. The ideal situation would be that the Asian session was traveling in a tight range during that day. If the Asian session was in a good trend Estimated Reading Time: 2 mins When talking about the Asian trading session, we often refer to Japanese session (or Tokyo session), as Tokyo is the third largest trading center worldwide (accounting for % of the overall trading
The 20 Pips Asian Session Breakout Forex Trading Strategy
The significant advantage of the forex market is it opens 24 hours a day, which provides a couple of trading opportunities to traders around the globe. There are four major trading sessions that exist, forex trading the asian session first one of Asia, followed by Frankfurt, London, forex trading the asian session, and New York. All of these are the significant sessions that allow investors to trade even in opening sessions or even in the middle of the night. But not all the trading sessions are equally volatile; for example, London and New York are the biggest sessions where a lot of volume traded, and on the other hand, traders believe that the Frankfurt and Asian sessions are the least traded session in the market.
So this mentality stops the traders from trading the Asian session. In a less volatile market, simply it is difficult for the traders to seize the more significant gains, and even in less volatile conditions, traders hate to trade the markets, and if you are the one who is always looking to make quick bucks in the volatile conditions.
In this article, we will show you the strategy we created, especially to take advantage of the Asian markets. We believe you know that London is the most significant trading session in the market, which provides where most of the traders around the globe, bankers, and institutions trade the market. In the London market, most of the currencies show a lot of volatility, and you can trade all of it, but it is advisable to give preference to the GBP, CHF, USD, and EUROS.
After finding out the opening time of the London session according to your local time, the next step is to sit on your desk one hour prior to the London opening and find out which of the currencies performed better in the Asian session and mark the Asian session High and Low. The next step is to wait for the London opening and in London session when the price action breaks the Asian session high or low take trade in that direction.
As you know, forex trading the asian session, London is forex trading the asian session biggest session, so always expect longer moves. This strategy is specially created for intraday traders, so always trade the Asian high and lows on lower timeframes, such as 5, 15, or 30 minutes.
According to the GMT, the Asian session opens at Midnight and closes at Morningand the London session also opened the morning at AM, so before the London, forex trading the asian session, opening finds out the Asian high low to take the trade. So it is advisable to confirm the breakout first then only activate your trade. As you can see in the below image, when price action breakout the Asian high and low in the London session, it started holding below the breakout line, which confirms that the breakout is real.
The image below represents our entry, exit, forex trading the asian session, and take profit in this forex pair; we took entry when the price action holds below the breakout line. The stop loss was just above the breakout; the reason for the smaller stops is that the holding below the breakout line confirms the stability of the breakout.
Some traders like to trade only the London session, forex trading the asian session they exit their positions as the London session closes. It is your personal preference. However, we recommend you hold your positions for the more extended targets because the London session overlaps with the US session, and the US is the biggest session in the industry, where the traders with deep pockets trade the markets. So just like London, if the markets allow you to hold your position for the US session, then go ahead and milk the market.
The last green on the below image represents the London closing, but we decided to go for the deeper targets because the trend of the market was quite healthy, which is a sign for us to hold our winning position. The image below shows that the Asian session failed to make any move in this pair, and it just holds sideways because it was waiting for London to open so that the increased volatility moves the market. When London opens then price action immediately breakout the range, it started holding above the range, forex trading the asian session, which was a confirmation to go long in this pair.
The below image represents our entry, exit, and take profit in this pair; we took entry when price action holds above the breakout line. The stops were just below the breakout, and forex trading the asian session the take profit, we decided to lose our position at the major resistance line in the US session. Asian session high low breakout is an intraday strategy; it helps you to trade all the sessions in the market.
You can take data from the Asian session and use it in the London session to take an entry, and the volatility and strength of the US session help you to exit your position at more significant gains. This is the beauty of this strategy, which makes you active in all the sessions. The more you use this strategy, the better your trading will be, and the deeper understanding you will have of all the trading sessions.
Save my name, email, and website in this browser for the next time I comment. About Us Advertise With Us Contact Us. Forex Academy. RELATED ARTICLES MORE FROM AUTHOR. Trading Reversals Using Bullish Reversal Candlestick Patterns.
Using Bollinger Bands to Time the Rectangle Pattern. Four Powerful Above the Market Trading Strategies that Work. LEAVE A REPLY Cancel reply. Please enter your comment! Please enter your name here. You have entered an incorrect email address! Popular Articles. Forex Chart Patterns Might Be an Illusion 4 September, Chart Patterns: The Head And Shoulders Pattern 16 January, Samtrade FX Review 26 March, Academy is a free news and research website, offering educational information to those who are interested in Forex trading.
EVEN MORE NEWS. Understanding the Economics of Cryptocurrencies 13 June, Trading Reversals Using Bullish Reversal Candlestick Patterns 12 June, Using Bollinger Bands to Time the Rectangle Pattern 11 June, POPULAR CATEGORY Forex Market Analysis Forex Brokers Forex Service Review Crypto Market Analysis Forex Signals Forex Cryptocurrencies Forex trading the asian session - ALL RIGHTS RESERVED.
4 Effective Ways to Trade the Asian Session
, time: 52:05Forex Market Hours - Forex Market Time Converter
Mar 11, · The Asian forex session starts off the trading week on a Monday morning at and closes at in Japanese Standard Time (JST). In London, traders Estimated Reading Time: 6 mins Jun 09, · The forex market is available for trading 24 hours a day, five and one-half days per week. The Forex Market Time Converter displays "Open" or "Closed" in the Status column to indicate the current state of each global Market Center. However, just because you can trade the market any time of the day or night doesn't necessarily mean that you When talking about the Asian trading session, we often refer to Japanese session (or Tokyo session), as Tokyo is the third largest trading center worldwide (accounting for % of the overall trading
No comments:
Post a Comment