I’m new to Forex trading so any help would be greatly appreciated. I have been reading about different systems and some of them talk about working out the last session’s highs, lows and opens and closes. The question I have is that do I have to work these out using a generic time frame; for eg. GMT or can I do it using my own time frame (Sydney time)
For example, I live in Sydney; if I was to work out the opens closes etc for yesterday, can I work this out in Sydney time or do I have to work do it using GMT and then translate that time into GMT+10??
I hope this question makes sense… Thanks in advance.
There are three major forex sessions, the Tokyo, London, and New York sessions. They each take place during normal business hours of the respective cities, and don’t have anything to do with your local time.
There’s a handy session time converter at forex.timezoneconverter.com that will translate the session times into your local time zone.