Importance of the days of the week / month?

Beginner Questions
1

Is there any reliable importance to the days of the week / month to any specific forex pair?

Not talking about quarterly news releases and that kind of thing, more like you can expect higher volatility on this pair on Wednesday sort of thing…

Cheers :slight_smile:

2

there is nothing 100% in Forex trading , so no one can predict any calculation with certainly , this is the real attitude in this market.

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3

You can see this with some backtesting. Look for where highs and lows of the week are created. Then do the same for months. You have to see it to really absorb it.

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4

High volatity occurs at the opening of London and later New York sessions. If you keep a daily journal you could build up which days of the week suit your trading style. Focus on process.

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5

Helloooo. :blush: Haha. :smiley: You might find this one useful! :smiley: It says that typically, the middle days of the week are the best days to trade cause there’s more action during those times. I’m just not sure about the volatility for each specific currency though. :thinking:

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6

Kathy Lien gave some details on how certain pairs traditionally register higher activity for the months in her book “Day Trading & Swing Trading the Currency Market”. For e.g. USDJPY & USDCAD rising in JUL and declining in AUG in 9/11 and 8/11 years (respectively). There are other pairs for other months that are noted in the book as well.

Data from a 11 year sample upto 2007. Her 3rd edition will have updated figures upto 2015. If you’re good with Excel you could download the data from your broker and work on the data, like I’m doing here in a similar exercise involing time of day.

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7

Marketmilk has that kind of info here’s the link:

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8

Session open and closes are important too .
Mark out weekly highs lows , same with Daily highs Lows those will give you insights into trading ranges where your looking for potential trades