Traders are looking for opportunities to make a profit when the market is closed, and the weekend is a good time to take advantage of those opportunities. The weekend provides the opportunity to profit from low trading volumes, and big news releases are typically published early on the economic calendar. A Forex weekend gap trade, for example, targets a price one PIP above Friday s closing price. The left side of the chart shows that prices are currently moving higher. While the uptrend is not evident, the price is trading above the 200 period simple moving average line.
Trading on the weekend can also be an effective way to review the week and plan for the week ahead. Weekend gaps can be created by geopolitical events, such as the tsunami in Japan or the mutated coronavirus. To make the most of the weekend, it s important to study the ramifications of any major news event before you start trading. Also, you can trade with a plan, if you have one.
Despite the volatility of the market, a forex weekend gap trading strategy is worth a try. Although weekend gaps are volatile, they can also be profitable. By identifying price gaps, you can develop a complex trading plan and apply other strategies that might work in a different timeframe. You can subscribe to the number one winning technical analysis ebook via email. This eBook contains complete rules of the system, cash-making strategies, images, and case studies.
After deciding on a strategy, you should open an account with a Forex trading company. Make sure to choose a heavily traded pair. The most popular currency pair is the euro-U.S. dollar, followed by the Japanese yen and the British pound sterling. These pairs are the most liquid and least volatile. If you are a novice, consider a weekend gap strategy. This strategy allows you to trade in a different timeframe and capitalize on different market conditions.
Traders should understand the risks involved in forex trading on the weekend. The currency markets are closed on weekends, but prices may still fluctuate. This can be a great time to find a profitable position. Although there may be lower trading volume on the weekend, you shouldn t worry if the market is closed. There will always be positions to enter, and if you have an edge, you can make money in forex.
When choosing a currency pair, you should consider the open market hours for the pair you are trading. Many currencies have different open and closing times, so it is best to check out which market is open and which is closed. The market closes on Saturday evening and opens again Sunday afternoon. If you re looking for an opportunity to make money on the weekend, a cryptocurrency market is an excellent choice. A Forex market is open around the clock every day, but it is also best to trade during the weekday if you re not planning to spend the weekend in forex.
Professional traders who trade Forex on the weekends need time to relax and recover. On the weekday, they work hard, but the weekend allows them to recover and rest. They wake up at 6:30 GMT, turn on their Twitter feed, and check their charts and squawk. They keep working until seven PM GMT, and even then, they review their trading performances to make the most profitable moves. So, how do they make money on the weekend?
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