I remember you mentioned that, here on this thread, last winter.
Time to stop “thinking” about it, and start crunching the numbers. I’ll be interested to see what you come up with.
You will find it to be probabilities based. Look really hard into that. It will drop MOST days, around that time, but not EVERY day.
And you can’t depend on common days. Like every Wednesday it drops at 5:00 PM GMT. It doesn’t work that easy. But once you get a handle on the daily time to zone in on, you can definitely capture some nice gains. Don’t look for a distinct hour, look for a range of 2 or 3 hours. Couple that with a nice little price action based directional hint, and you will find success.
Stops are key to timing strategies.
There are days the risk will not be worth the gains, based on how far away the stop needs to be in relation to the daily average of price travels on a pair.
Clint… I do tend to procrastinate! Need to get off my duff and just do it! I did give it a little bit of a try but got some screwy results that I wasn’t seeing on the charts so kind of let it go for a while. Like Master Tang says the price pattern is not as regular as the volume pattern so may not lend itself to the same kind of graphic analysis.
Master Tang… sounds like you’ve got it figured out. Way ahead of me!
I don’t think I’m giving away the farm if I suggest something in the neighborhood of a price dip around 8 or 9 am and again around 14:00 ? Maybe something around noonish too?
LOL
I have a square tuit, it doesn’t work as well. Keep it on a shelf right next to my box of scratch which is useful for making all sorts of things.