I am finished with the school, so I am planning to design my own system…
I would need some extra information about, some sort of statistics if anyone has that, when the highest of the day occurs ?(In trading hours I guess,but morning evening lunch) and when the lowest of the day occurs?
Any general comments are welcomed regarding the market behaviour in trading hours, however that is obvious, but would be more interested what happens after trading hours when all markets are closed? Keeping the closing price or around?
Can we generalize this, or it is random in each day?
Another thing I would need help with…I found a site where they giving these details, this is week March 15-22.
Would someone help me answer my questions?
As this is a weekly result I can see that GBP has power of 0.53, JPY has power -0.91 obvious for ME from this that GBP is stronger then JPY, so I would go next week for a bull GBP/JPY, because GBP has to lose his power, whilst JPY has to strengthen himself. The balance out that GBP and JPY will be equal how long it would take? 1 day two days 3 days next week? My theory that if JPY takes two days to suddenly get strength than I have two days when GBP will be higher and can take profit from it.
How long would that be that they balance out themselves theoritecaly? I know that GBP can be more strong, that JPY can be weaker, but I am interested in the balance, because that would be the changing point from uptrend to downtrend I guess so…also guess it takes days to balance out, or hours?
Would you help me to get a proper analisys from this? I would want to use it to confirm my charts and indicators prediction, and I do want my own system, I do want to create my own and not follow anybody.
I would just use it as to confirm, that other people thinks the same way…
Hi I just needed more clarification on the high and low of the day, what do I have to look for to know that this might be high/low of the day, what does it involve?
You can’t know 100% that the high or low of the day has been reached until the next day. However, very often one or the other will print early in the day - within the first 60 minutes.
Beware that the London session can often defy this principle as it behaves like it effectively has a second open when New York opens.
Its not always obvious when the low and high of the day will be reached, though it mostly occurs during New York and London sessions. Mostly, one of the two occurs within the first 60 munites of the day. It’s much earsier to see the print the next day
It’s difficult to know and be absolutely sure that the low or high of the day has been reached. Mostly, you’ll have to wait until the next day, though sometimes one of them will manifest earlier in the day. Most actions happen during London and Newyork sessions
