On Sunday, October 25, all of Europe and the U.K. will return to Standard Time. This will affect traders in all parts of the world. Here are the specifics:
[B]1. For central Europe[/B]*, the current time zone CEST (Central European Summer Time, GMT+2) will end, and the new time zone
will be CET (Central European Time, GMT+1).
Clocks in Europe will be turned back one hour, early Sunday morning. For traders in Europe, forex market times in Europe and the U.K. will not change; but, forex market times in all other parts of the world will be [B]one hour earlier than before[/B].
Example: the U.S. business day begins at 8am New York time. This is currently 2pm CEST in central Europe.
But, for one week (October 25-30), the 8am EDT [B]start of the U.S. business day will be 1pm CET in central Europe.[/B]
[B]2. For the U.K.[/B], the current time zone BST (British Summer Time, GMT+1) will end, and the new time zone will be GMT
(Greenwich Mean Time).
Clocks in the U.K. will be turned back one hour, early Sunday morning. For traders in the U.K., forex market times in Europe and
the U.K. will not change; but, forex market times in all other parts of the world will be [B]one hour earlier than before[/B].
Like traders in Europe, [B]U.K. traders will see the business day in the U.S. start and end one hour earlier than before.[/B]
[B]3. For the U.S.[/B], forex market times in Europe and the U.K. will be [B]one hour later than before[/B].
For one week (October 25-30), until the U.S. also returns to Standard Time, traders in New York, for example, will see the business day begin [B]in Europe at 3am EDT, and in London at 4am EDT[/B].
[B]4. For traders in all other parts of the world[/B], these changes will be the same as for the U.S. That is, forex market times in Europe and the U.K. will be [B]one hour later than before[/B]; forex market times in the U.S. will not change.
[B]5. For those trading the London Breakout Strategy on the Win Ratio thread[/B], I have updated the Time Table for that strategy to account for the changes described above. Here’s the link to that Table: 301 Moved Permanently
[B]6. For traders outside of Europe and the U.K. trading the London Breakout Strategy on the London Breakout-1 thread[/B],
the five-candle period used in that strategy will be [B]one hour later than before[/B].
Example: in the eastern U.S. time zone, [B]the five-candle period will be 1am-6am EDT[/B], for one week only.
For traders in Europe and the U.K., there will be no change to the five-candle period.
[B]7. The final time change for Fall 2009 will occur on Sunday, November 1[/B], when the U.S. and Canada return to Standard Time. I will post those changes next Friday.
- Note: The countries which comprise “central Europe” (listed in order by daily forex trading volume) are: Switzerland, France, Germany, Denmark, Belgium, Luxembourg, Sweden, Italy, Norway, Netherlands, Austria, Spain, Hungary, Poland, Czech Republic, Slovakia, Slovenia, and the Balkan states.
“Central Europe” is not the same as the EU or the euro-zone. Of the 17 countries (plus the Balkan states) listed above as “central Europe”, the following are [B]not part of the euro-zone:[/B] Switzerland (CHF), Denmark (DKK), Sweden (SEK), Norway (NOK),
Hungary (HUF), Poland (PLN), Czech Republic (CZK), and the Balkans.
The central European time zone (“central Europe”) is important to us, as traders, because this time zone comprises the financial muscle of Europe, all coming to market at the same time each day.
Clint
