what is best time to trade gold In terms of getting more pips?
reply with tips other than New York session.
welcome to the forum!
no criticism implied at all, but your question’s really difficult to answer, and perhaps not entirely in the way you might have imagined
my instinctive reaction was that it felt like seeing a post in a beginners’ arithmetic forum: “What is 2+2? Reply with tips other than 4”
please excuse my answering a question with a question, but if you’re unable, for whatever reason, to trade the NY session, what has made you choose gold as your trading instrument?
now i’ll try to answer it with a statement as well, in case that helps you more: it really won’t make much difference, because it’s so clear that the NY session is the best time that the odds are going to be very strongly against your “getting more pips” at any other time - sorry to be the bearer of bad news, but it is what it is
Hello unknown, before you will start trading gold, get some basics and experience on other pairs. Regards Greg
I resisted on posting something along the same lines.
If you want a specific time, then the first couple of hours after New York opens is usually the highest volatility.
The easiest way is to look at an hourly chart and see where the biggest candles are. I’ve never analysed gold much, but looking at the last week or so, there’s a trend for big candles at 13:00 to 15:00 BST. These candles often seem to have small tails, so seems a very good time to trade gold as a sort of scalp trade.
edit to add:
I’d always be wary of the trend shifting at New York open too. It’s very common to see the last 5+ hours uptrend get wiped out within an hour or two
The other best time is the first two hours when London session opens. That would also apply for any currency trade.