Most of my members and myself included would have missed the approximate 200 pip move that resulted from the pin bar reversal setup on the NY close chart on the left had we been looking at a Non-New York close chart like the one. If youre truly serious about your trading, you should pay close attention to what I am going to discuss here it will make a huge difference in your trading. The time at which your daily bars close out is set by the broker offering the platform and a broker either offers NY close 5-day charts, or they dont So You Need To Find a Good Broker Who Offers the Correct Charts. New York Close, forex, charting Platform Here.
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Also, as a price action trader focusing on the daily chart, we need to see the price action setup close out on the daily chart before we can correctly identify it as a price action signal, and its at the daily chart close that many. The broker is the one that acts as the exchange which automatically makes him the market maker. For many beginning traders, the fact that they might be looking at charts that arent accurate does not even occur to them. What broker Has The Correct New York Close Charts? Gone are the days when the trading community was strictly dominated by the multinational banks and large financial institutions, Today, an individual holds a lot of power in the trading community if he has the ability to trade on a variety of assets, currency, stock, options. There are only 5 trading days per week in each major currency trading center around the world, but due to the 24hr nature of Forex, some platforms show a Sunday bar, this is incorrect and unnecessary New York close 5-day charts provide more accurate price. These charts also need to have 5 daily bars per week instead. . Forex trading session which is the New York session. The indices and stocks sections include financial charts for a full range of global stock markets. Be sure to utilize the proper stop loss tools to minimize risk. Forex market, whereby brokers allow you to trade up to 2 of the overall contract size (50:1) compared to stock market (2:1).