You really want to trade and create a huge difference in your trading, You should pay attention to what i am going to discuss hereafter, what i teach my student: How is New York Close Forex Charts imporhtant and why you need to be using them to effectively trade the price action strategies Ice 9 Technology Review
Let me explain why New York Close Forex Charts Are So Important…
In short, Forex brokers have established the normal Forex charts and in my opinion traders must know that they are not suitable for any form of technical analysis or professional price action trading. You need to have the New York trading session close of opening and closing in true alignment of forex charts (this is the real daily closing time of forex charts) in order to successfully trade.
These charts also need to have 5 daily bars per week not 6. This will help you correctly evaluate price data and be able to analyze exactly same price action signals for youself and all of my members see.
I am going to discuss this following matter more obvious, if you do not have time to read the entire lesson you can download New York Close Forex Charting Platform here.
Almost forex brokers will simply spend offering the most relevant or effective charts for you in order to help you making your trading decisions.In reality, for many beginning traders, if just look at charts, it is meaningless to think that the charts occur as your assess.
I assure that this is something you need to seriously learn about and may be you will not see it on other Forex trading education websites.
Proof That You Need New York Close 5-day Charts
Forex market opens all 24 hours and 5 days per week, session close time is at 4:59:59 pm accoding to New York time. The start of new trading session takes place at 5 pm as as New Zealand / Australia and Asia. The 2nd heaviest Forex trading session which is the New York session.
In any market, closing prices are the most important because it shows someone won in battle between the bears and the bulls for that session. In addition to, before we can correctly define price action signals, we not only need to focus on daily charts, but also the price action setup close out.
Daily trading strategies by charts are so important for learning to trade. For this reason. we all need to consider carefully daily chart closing price with the most accurate and relevant.
Traders who are wanting to become members of my trading community, need to correct evaluate about NY close 5 days charts. And since my price action strategies had concentrated on daily charts, my all members exactly use NY close charts.
In fact, MT4 (Metatrader4) Platforms all are not the same, MT4 providers show 6 daily price bars on GMT time, which is very wrong even sometime lead you to false signals causing big problems. You just follow my trading patterns or ideas if you use the correct charts.
Example of a Non-New York Close 6-day Chart vs. a New York Close 5-day Chart
Sunday bars on the non-New York close chart are on the left. This is not relevant, simply they are taken up space and add unnecessary variables to the charts so that they will confuse your concentration and your signal assesement. Each major currency trading center around have have 5 trading days per week and because of specific characteristics of Forex market, opening 24 hours which cause some platforms showing a “Sunday” bar is incorrect and unnecessary.
New York close 5-day charts provide more accurate price action trading signals
Most of my members and me would have missed about 200pip from the pin bar at a Non- New York on the NY close chart on the left, but result is reversal of like the one on the right.
In the daily price bar, just a few brokers give a true “5 day Chart” with the correct open and close shape. I use a 5-days chart with a New York close MT4 data sever in order to create my price action trading signals as my members. Only use New York Close Forex Charts you will have the same trading setups/signals.
Some traders have emailed me asking whether they can “adjust” the platform time on their trading platform and my answer is to say NO. They are set by the broker offering the platform either NY close 5-day charts, or not.
WHAT BROKER Has The Correct New York Close Charts ? (Who Can you trust to trade with?)
We can not guarantee somebody’s trading safety, but we certainly a matter that we always consider our homework and work with broker. They are in experience, reputable, reliable and offer the correct NY close 5-day charts. The broker will directly access to bank prices and run a gunine regulated operation. The broker offer a wide variety of other markets including CFD’s, Commodities and Indices. They also have the correct charts on a mobile dealing platform for your iPhone or mobile
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