The best time to trade XAUUAD in Nigeria is beyond a certain time or day of the week, one thing that is consistent is market structure and when this structure is formed and completed is a good time to trade. To know more about this you can read my previous article on price action and market structure. The best way to trade forex in Nigeria is to locate a strong market set up and engage in market structure trading.

It is true that some forex trading sessions have more market activity and opportunity, but many traders still lose money in that high-volume market sessions. The best time to trade forex in Nigeria is more than trading sessions and timeframes. Part of the high market setups is using technical analysis chart pattern trading, Fibonacci tool , support and resistance , and more.

When you correctly implement this, your trading decisions will be superior to those of traders who only consider overlapping trading sessions as the best time to trade forex. The forex market requires a large volume of trade transactions to have a significant move. The big institutions play a huge role in making that happen, so when there is a national holiday, these huge market movers observe these holidays and you should too, otherwise you will be stuck in unusual price behavior and will not make sense for any particular dominant market dominant trend.

The truth is they are both correct. One reason you should stay away from early Mondays is that the market does not have a clear-cut direction. Smart traders and big investors stay away and you should too. Track major news releases with your economic calendar and stay away from the market during those periods especially if you have no idea how trading the news works. During this period the market experience irregular price spikes that tend not to go with the regular market structure, so stay away if you are not sure.

As a trader, one thing that gives you an advantage over other traders is observing proper trading hours as this will serve you in many ways. There is a trading session that overlaps the London and New York session between 12 GMT to 15 GMT and overlaps of Sydney and Tokyo session between 23 GMT to 5 GMT. Save my name, email, and website in this browser for the next time I comment.

That is, they are very significant traders and, at least, we need to look narrowly at the direction of their positions. Therefore, what happens on Friday, often has a significant impact on the further price movement, and can give an impulse on both Monday and the whole next week.

In addition, according to statistics, Friday is often the minimum or maximum point of a weekly candle. For the same reason, we should expect the continuation of the directed price movement, if it is present in the weekly candle. And if you take a separate Friday D1 candle, — if it has any of the signals on your trading system, or in general by Price Action — it should be looked at.

Many ask the question: when is it better to open positions when there is a signal on D1 — at the close of the market on Friday evening, or at the opening of the market on Monday? The answer is simple: opening positions at the opening of the market on Monday. If there is a gap , we trade it, and if there is no gap, we trade our setup. Since if you open positions on Friday night, a huge gap can simply endure your stops on Monday and you will get a loss plus your order can slip.

In addition to the above, do not forget that on Fridays, many traders close the transaction and fix the profit, not wanting to postpone the positions through the weekend. This can be associated with both a possible gap and a desire to get out of the position and calmly go on a weekend.

Therefore, at the very end of the day, if there was a clear bullish trend — the price moves back a little bulls fix profit , if there was clearly a bearish trend — the price moves slightly higher bears close positions.

Home Forex For Beginners Forex Brokers Binary Options Brokers Forex Robots All Posts Trading Tools Economic Calendar Forex Market Hours Online Quotes Forex Charts Lot Size Calculator Margin Calculator. Hello ladies and gentlemen, Forex traders! What time does the Forex close on Friday? The trend direction in the afternoon is the key to the impulse on Monday Next, what I would like to draw attention to is the movement in the second half of Friday, i.

And we are interested in a clearly expressed and directed movement: This is especially evident in the USDRUB pair , which is shown in the screenshot above. Weekly candle formation In general, the market does not like to change the shape of a weekly candle on Friday. Well, or almost will not change — which happens more often than we would like to… Why is Friday so important? When to open positions at a signal on D1 — on Friday or on Monday?

However, the business is not obligated to do so. Therefore, this strategy limits overall exposure to potentially large variations in the valuation of a currency. The Forex market is available for hour trading because of international time zone differences and trades being made through a worldwide network, not a centralized location with a set closing time i. However, unlike with securities, the currencies get traded globally well after the New York market closes. The need for securities, including domestic bonds, stocks, or commodities, is not in high demand internationally; therefore, trading past standard business hours is not needed domestically.

The demand is too low for the domestic market to remain open 24 hours and be justified, as the chance of large numbers of shares trading at 2 am is unlikely. To have a complete understanding, most traders require several passes through the timings several times. Although, after trading for a while, it will become easier to remember. Please think of the Forex market as a working clock system, with its own hours. When do you trade? The volatility and liquidity vary between sessions, starting as the market opens in Sydney, then Tokyo.

As London markets open, Sydney is closed, but major hedge funds and banks are active, but the peak occurs after New York markets open. For example, the best time to trade USD pairs is during Euro and USA sessions. JPY is the best to trade during Asia and USA sessions etc. Plan your trades based on location. Traders need to know when liquidity and volatility are good. Generally, London or New York is open, preferably overlapping. This offers the most balanced combination of volatility and liquidity.

Privacy Policy. Home Choose a broker Best Forex Brokers Learn trading Affiliate Contact About us. Home » Education » When does Forex Market Close on Friday? Table of Contents. Author Recent Posts. Trader since Currently work for several prop trading companies. Latest posts by Fxigor see all. The Best VPS for Forex Trading! Related posts: When Does The Forex Market Open?

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The forex market is open every day of the week, excluding weekends and holidays. However, because it is a global market, the forex market operates around the clock. You can trade day or night because forex trading sessions run and overlap all over the world.

Many traders in Nigeria wonder what time the foreign exchange market closes on Fridays. In this article, you will learn what time does forex market close on Friday in Nigeria. From 5 p. EST on Sunday to 4 p. EST on Friday, the forex market is open around the clock in various locations. It is available and opens five days a week. The currency market in Nigeria is open from Sunday at PM to Friday at PM.

Every Sunday at p. Nigerian time, the foreign exchange market begins trading for the week. This corresponds to pm the rest of the year and pm from roughly October to March. To know the best time for day trading, a forex trader must know what day trading is, to begin with. The act of buying and selling in a short period of time, usually one day, is known as day trading. That being said the best time for day trading is trading sessions where the market trading volume is high which are the London and New York sessions.

One distinguishing feature of the foreign exchange market is the forex trading sessions, which provide traders with various market opportunities and liquidity, particularly in areas of market session overlap where high trading volume is experienced.

The Sydney trading session is part of the Asian session. It begins at GMT and ends with the Tokyo session at GMT. During the session the Yen is, of course, the most traded currency, accounting for Sometimes there is very little liquidity i.

Due to this low liquidity, the majority of currency pairs will trade in a range, especially if the New York session before it saw a significant move.

The majority of activity occurs at the start of the session because this is when economic news is released. As economic news from Australia, New Zealand, and Japan is released during the Asian session, you can expect stronger moves in pairs containing the JPY, AUD, and NZD.

The London session is a strong financial center in all of Europe. The London trading session experiences large trade volumes because of the interest of traders around the globe. A significant trading volume over 32 percent of all forex transactions are carried out here. Volatility i. The London session is another high trade volume, especially during the overlapping of London and New York sessions. In as much as the forex market has trading sessions that affect trade volumes, one thing that is guaranteed in the forex market is the concept of market structure.

That being said, the best time to trade XAUUSD in Nigeria is when there is a high market setup with low risk and high reward. The best time to trade XAUUAD in Nigeria is beyond a certain time or day of the week, one thing that is consistent is market structure and when this structure is formed and completed is a good time to trade.

To know more about this you can read my previous article on price action and market structure. The best way to trade forex in Nigeria is to locate a strong market set up and engage in market structure trading. It is true that some forex trading sessions have more market activity and opportunity, but many traders still lose money in that high-volume market sessions. The best time to trade forex in Nigeria is more than trading sessions and timeframes.

Part of the high market setups is using technical analysis chart pattern trading, Fibonacci tool , support and resistance , and more. When you correctly implement this, your trading decisions will be superior to those of traders who only consider overlapping trading sessions as the best time to trade forex. The forex market requires a large volume of trade transactions to have a significant move. The big institutions play a huge role in making that happen, so when there is a national holiday, these huge market movers observe these holidays and you should too, otherwise you will be stuck in unusual price behavior and will not make sense for any particular dominant market dominant trend.

The truth is they are both correct. One reason you should stay away from early Mondays is that the market does not have a clear-cut direction. Smart traders and big investors stay away and you should too. Track major news releases with your economic calendar and stay away from the market during those periods especially if you have no idea how trading the news works.

During this period the market experience irregular price spikes that tend not to go with the regular market structure, so stay away if you are not sure. As a trader, one thing that gives you an advantage over other traders is observing proper trading hours as this will serve you in many ways. There is a trading session that overlaps the London and New York session between 12 GMT to 15 GMT and overlaps of Sydney and Tokyo session between 23 GMT to 5 GMT.

Save my name, email, and website in this browser for the next time I comment. WHAT TIME DOES THE FOREX MARKET OPEN ON SUNDAY? OPEN FREE XM ACCOUNT. OPEN FREE DERIV ACCOUNT. Leave a Comment Cancel reply Comment Name Email Website Save my name, email, and website in this browser for the next time I comment.

How do big players behave on this day? The forex market moves up slowly on Tuesdays as compared to Mondays because traders have now formed their trading strategy and formed their opinions; they are ready to implement their trading methods. Been a stay at home dad for about the same amount of time. Author Recent Posts. On Thursdays, the market tends to trend and it moves really well.

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