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What time candlestick open in forex?

In forex trading, the candlestick chart is one of the most popular ways to analyze price movements. The candlestick chart displays the price action of a currency pair over a specific time frame. A candlestick consists of a body and two wicks, one at the top and one at the bottom. The body represents the opening and closing price of the currency pair, while the wicks represent the highest and lowest price reached during the time frame.

One of the questions that new traders often ask is what time candlestick charts open in forex trading. The answer is not straightforward, as it depends on the time zone you are trading in and the broker you are using. However, there are some general guidelines that can help you understand when candlestick charts open in forex trading.

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Forex Market Hours

The forex market is open 24 hours a day, five days a week. It is a decentralized market that operates through a network of banks, financial institutions, and individual traders. Due to the global nature of the forex market, it is divided into four major trading sessions: the Sydney session, the Tokyo session, the London session, and the New York session.

The Sydney session starts at 10:00 PM GMT on Sunday and ends at 7:00 AM GMT on Monday. The Tokyo session starts at 12:00 AM GMT and ends at 9:00 AM GMT. The London session starts at 8:00 AM GMT and ends at 5:00 PM GMT. The New York session starts at 1:00 PM GMT and ends at 10:00 PM GMT.

Each trading session overlaps with the previous and the next session, creating a continuous 24-hour trading cycle. The most active trading sessions are the London and New York sessions, as they overlap for four hours and account for more than 50% of the daily trading volume.

Candlestick Chart Time Frames

Candlestick charts can be displayed in different time frames, such as one minute, five minutes, 15 minutes, one hour, four hours, daily, weekly, and monthly. Each time frame represents a different level of detail and allows traders to analyze price movements in different ways.

For example, a one-minute chart displays the price action of a currency pair for every minute of trading, while a daily chart displays the price action for each day. The choice of time frame depends on the trading strategy, the trading style, and the trader’s preference.

When Do Candlestick Charts Open?

Candlestick charts open at the beginning of each trading session, depending on the time frame selected. For example, if you are using a one-hour chart, the candlestick chart will open at the beginning of each hour of trading. If you are using a daily chart, the candlestick chart will open at the beginning of each trading day.

The opening price of the candlestick is the first price recorded at the beginning of the time frame. For example, if you are using a one-hour chart, the opening price of the candlestick will be the first price recorded at the beginning of each hour.

Conclusion

In conclusion, candlestick charts in forex trading open at the beginning of each trading session, depending on the time frame selected. The forex market operates 24 hours a day, five days a week, and is divided into four major trading sessions. The choice of time frame depends on the trading strategy, the trading style, and the trader’s preference. Understanding when candlestick charts open is essential for analyzing price movements and making informed trading decisions.

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