One distinguishing feature of the foreign exchange market is the forex trading sessions, which provide traders with various market opportunities and liquidity, particularly in areas of market session overlap where high trading volume is experienced.

The Sydney trading session is part of the Asian session. It begins at GMT and ends with the Tokyo session at GMT. During the session the Yen is, of course, the most traded currency, accounting for Sometimes there is very little liquidity i. Due to this low liquidity, the majority of currency pairs will trade in a range, especially if the New York session before it saw a significant move. The majority of activity occurs at the start of the session because this is when economic news is released.

As economic news from Australia, New Zealand, and Japan is released during the Asian session, you can expect stronger moves in pairs containing the JPY, AUD, and NZD.

The London session is a strong financial center in all of Europe. The London trading session experiences large trade volumes because of the interest of traders around the globe. A significant trading volume over 32 percent of all forex transactions are carried out here. Volatility i. The London session is another high trade volume, especially during the overlapping of London and New York sessions.

In as much as the forex market has trading sessions that affect trade volumes, one thing that is guaranteed in the forex market is the concept of market structure. That being said, the best time to trade XAUUSD in Nigeria is when there is a high market setup with low risk and high reward.

The best time to trade XAUUAD in Nigeria is beyond a certain time or day of the week, one thing that is consistent is market structure and when this structure is formed and completed is a good time to trade.

To know more about this you can read my previous article on price action and market structure. Many traders believe that Tuesday is a perfect day to start with forex trading. On Tuesdays, the market tends to move up slowly. Market moves up a lot better than we would see on Mondays. The forex market moves up slowly on Tuesdays as compared to Mondays because traders have now formed their trading strategy and formed their opinions; they are ready to implement their trading methods.

Wednesday is the second best day to forex trade. On Wednesdays, generally, the market tends to move with the same kind of market movement that we can see on Tuesdays, bigger price moves on the chart as a result. On Wednesdays, the forex market starts to pick up, traders also likely to implement their trading strategies on this day too because the market moves with the flow.

If you get the direction right, Thursdays can give you the best result of your trading strategies. It is the climax day for forex trading; it is the best day of the week to trade. On Thursdays, the market tends to trend and it moves really well. If you get the right direction, it can reward you very huge but if you realize you are on the wrong, you need to cut your losses and still make the profit. According to many traders, Friday is not a good day to trade forex.

The reason why traders generally lose money on Fridays is, they tend to think that the market would go the same way as it was on Thursday; they get a bit aggressive on trading, due to market boom on Thursday. Trading volume on Fridays reduces significantly, traders who have taken positions; they are now closing their positions on this day. Hence, Friday tends to have very low trading volume, the market becomes very sloppy and prices fluctuate back on this day.

The forex market conditions in each day of the week are different. A new trader should be aware which days of the week are best for forex trading. There are three ideal days to forex trade; they have a good price movement and an ideal trading volume.

These three days are considered to be the best by many expert traders. Monday is also a not a perfect day because the market is still sleepy or trying to wake up and price movements also tend to be slow on this day.

Hence, you should focus on trading on these three days. It is not necessary you should trade all five days of the week to make money through forex. You can implement your strategy effectively and make more profit just by trading only three days a week. Accordingly, in this case, if you are trading within a day, looking for sale deals, if the weekly candle is clearly bullish, there is not much sense in it. Of course, if the weekly candle is indistinct, for example, something like a Doji, then the price can go in any direction, and it is difficult to predict something for such a candle.

But a solid week candle allows you to predict the movement of the market in the afternoon of Friday with sufficient accuracy: bearish — down, bullish — up. Well, or almost will not change — which happens more often than we would like to…. A huge amount of trading volume in the forex market is intraday trading. And they all leave the market until Monday. So who are they — those people who open positions on Friday and leave them for the weekend? After all, anything can happen during the weekend.

These are big traders, various serious institutions that own more information than we or the media. At the same time, they agree on the risk of transferring transactions through the weekend, paying swaps. That is, they are very significant traders and, at least, we need to look narrowly at the direction of their positions.

Therefore, what happens on Friday, often has a significant impact on the further price movement, and can give an impulse on both Monday and the whole next week. In addition, according to statistics, Friday is often the minimum or maximum point of a weekly candle.

For the same reason, we should expect the continuation of the directed price movement, if it is present in the weekly candle. And if you take a separate Friday D1 candle, — if it has any of the signals on your trading system, or in general by Price Action — it should be looked at.

Many ask the question: when is it better to open positions when there is a signal on D1 — at the close of the market on Friday evening, or at the opening of the market on Monday? The answer is simple: opening positions at the opening of the market on Monday. If there is a gap , we trade it, and if there is no gap, we trade our setup. Since if you open positions on Friday night, a huge gap can simply endure your stops on Monday and you will get a loss plus your order can slip. In addition to the above, do not forget that on Fridays, many traders close the transaction and fix the profit, not wanting to postpone the positions through the weekend.

The forex market is open every day of the week, excluding weekends and holidays. However, because it is a global market, the forex market operates around the clock. You can trade day or night because forex trading sessions run and overlap all over the world. Many traders in Nigeria wonder what time the foreign exchange market closes on Fridays. In this article, you will learn what time does forex market close on Friday in Nigeria. From 5 p. EST on Sunday to 4 p. EST on Friday, the forex market is open around the clock in various locations.

It is available and opens five days a week. The currency market in Nigeria is open from Sunday at PM to Friday at PM. Every Sunday at p. Nigerian time, the foreign exchange market begins trading for the week. This corresponds to pm the rest of the year and pm from roughly October to March. To know the best time for day trading, a forex trader must know what day trading is, to begin with. The act of buying and selling in a short period of time, usually one day, is known as day trading.

That being said the best time for day trading is trading sessions where the market trading volume is high which are the London and New York sessions. One distinguishing feature of the foreign exchange market is the forex trading sessions, which provide traders with various market opportunities and liquidity, particularly in areas of market session overlap where high trading volume is experienced.

The Sydney trading session is part of the Asian session. It begins at GMT and ends with the Tokyo session at GMT. During the session the Yen is, of course, the most traded currency, accounting for Sometimes there is very little liquidity i. Due to this low liquidity, the majority of currency pairs will trade in a range, especially if the New York session before it saw a significant move.

The majority of activity occurs at the start of the session because this is when economic news is released. As economic news from Australia, New Zealand, and Japan is released during the Asian session, you can expect stronger moves in pairs containing the JPY, AUD, and NZD.

The London session is a strong financial center in all of Europe. The London trading session experiences large trade volumes because of the interest of traders around the globe. A significant trading volume over 32 percent of all forex transactions are carried out here. Volatility i. The London session is another high trade volume, especially during the overlapping of London and New York sessions.

In as much as the forex market has trading sessions that affect trade volumes, one thing that is guaranteed in the forex market is the concept of market structure. That being said, the best time to trade XAUUSD in Nigeria is when there is a high market setup with low risk and high reward.

The best time to trade XAUUAD in Nigeria is beyond a certain time or day of the week, one thing that is consistent is market structure and when this structure is formed and completed is a good time to trade. To know more about this you can read my previous article on price action and market structure. The best way to trade forex in Nigeria is to locate a strong market set up and engage in market structure trading. It is true that some forex trading sessions have more market activity and opportunity, but many traders still lose money in that high-volume market sessions.

The best time to trade forex in Nigeria is more than trading sessions and timeframes. Part of the high market setups is using technical analysis chart pattern trading, Fibonacci tool , support and resistance , and more. When you correctly implement this, your trading decisions will be superior to those of traders who only consider overlapping trading sessions as the best time to trade forex.

The forex market requires a large volume of trade transactions to have a significant move. The big institutions play a huge role in making that happen, so when there is a national holiday, these huge market movers observe these holidays and you should too, otherwise you will be stuck in unusual price behavior and will not make sense for any particular dominant market dominant trend. The truth is they are both correct. One reason you should stay away from early Mondays is that the market does not have a clear-cut direction.

Smart traders and big investors stay away and you should too. Track major news releases with your economic calendar and stay away from the market during those periods especially if you have no idea how trading the news works. During this period the market experience irregular price spikes that tend not to go with the regular market structure, so stay away if you are not sure. As a trader, one thing that gives you an advantage over other traders is observing proper trading hours as this will serve you in many ways.

There is a trading session that overlaps the London and New York session between 12 GMT to 15 GMT and overlaps of Sydney and Tokyo session between 23 GMT to 5 GMT. Save my name, email, and website in this browser for the next time I comment. WHAT TIME DOES THE FOREX MARKET OPEN ON SUNDAY?

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But, they are unaware of the fact that market situations are different on each day of the week. It is true that some forex trading sessions have more market activity and opportunity, but many traders still lose money in that high-volume market sessions. Additionally, traders include global corporations, centralized banks, and others who require currency for international trades. There is a trading session that overlaps the London and New York session between 12 GMT to 15 GMT and overlaps of Sydney and Tokyo session between 23 GMT to 5 GMT. However, it is common for markets to overlap frequently for several hours, resulting in peak Forex market activity.

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