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Sam@ezeetrader.com

3 Comments

  1. Greg-Reply
    October 13, 2016 at 12:06 pm

    Hi Kym

    Thanks for your daily analysis. Can you please let me know what time GMT do your daily candles open at? and is there a preferred time that professional traders prefer?
    Thanks
    Greg

    • Kym Watson-Reply
      October 13, 2016 at 7:57 pm

      Hi Greg,

      I work on the basis of UK time for days and all my settings. Thus from 00:00 through to 24:00 BST at present. The London market has the largest foreign exchange volumes so it is logical to work off this time. That said US traders will work off their own time as they will see their market as being the most important.

      If you use a MT4 platform you will normally see that these are based on Universal Time, i.e. 2 hours ahead of BST or 1 hour ahead of GMT. If I was using these as my main charting package I would adjust any indicators such as pivots accordingly but you are forced to accept that they will normally be 1 to 2 hours different for their daily and 4 hour candles.

      I hope that makes sense

      Best wishes

      Kym

  2. Greg-Reply
    October 14, 2016 at 8:15 am

    Thanks Kym for your feedback. That makes a lot of sense.

    All the best

    Greg

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