Forex traders often rely on different time frames to analyze the market and make trading decisions. One of the most popular time frames is the one-hour chart. However, traders often wonder at what time forex 1 hour goes into the next bar.
To understand this concept, we need to first understand how time frames work in forex trading. A time frame represents a specific period of time on a chart, such as one minute, one hour, one day, or one week. Each time frame is made up of individual bars or candles that represent the price action for that period.
For example, on a one-hour chart, each bar represents one hour of trading activity. The bar shows the opening price, the highest price, the lowest price, and the closing price for that hour. Traders use these bars to analyze the market and identify potential trading opportunities.
Now, the question is, at what time does the current one-hour bar close and the next one-hour bar begin? The answer varies depending on the trading platform and the time zone you are in. However, there are some general guidelines that traders can follow.
In most trading platforms, the one-hour bar closes at the end of every hour. For example, if the current time is 2:45 PM, the current one-hour bar will close at 2:59 PM, and the next one-hour bar will begin at 3:00 PM.
However, this is not always the case. Some trading platforms may have different closing times for their one-hour bars. For instance, some platforms may close the one-hour bar at 59 minutes past the hour, while others may close it at the top of the hour.
Moreover, the closing time of the one-hour bar may also depend on the time zone you are in. Forex trading takes place 24 hours a day, five days a week. As a result, different time zones may have different market hours, which can affect the closing time of the one-hour bar.
For example, if you are trading from New York, the one-hour bar may close at 4 PM EST. However, if you are trading from London, the one-hour bar may close at 5 PM GMT. Therefore, it is essential to understand your trading platform’s closing times and the time zone you are in to avoid any confusion.
Another factor that can affect the closing time of the one-hour bar is daylight saving time. During daylight saving time, some countries may adjust their clocks forward or backward by one hour. This can affect the market hours and the closing time of the one-hour bar.
For example, during daylight saving time in the United States, the one-hour bar may close at 5 PM EDT instead of 4 PM EST. Therefore, it is important to keep track of any changes in market hours due to daylight saving time to avoid any confusion.
In conclusion, the closing time of the one-hour bar in forex trading varies depending on the trading platform, time zone, and daylight saving time. As a trader, it is crucial to understand these factors and monitor any changes in market hours to make informed trading decisions. By keeping track of the closing times of the one-hour bar, traders can analyze the market more accurately and identify potential trading opportunities.
