Depending on GMT time, the best time to avoid scalping is before 7 am GMT and after 6 pm GMT. Of course, this is a personal preference. Also, if you're a novice trader, you might want to use the 15-minute time frame, which will give you a better idea of how to trade. It's not uncommon to see a large upward or downward price movement in many of the major currency pairs during this period, and there are often some decent opening range breaks during this time, which are usually quite easy to trade and can generate excellent returns.
In addition to the time of day, one of the best times to avoid a rebound in the foreign exchange market is before important press data is released. Another benefit of these business hours is that, generally, there are no economic data releases or tax returns scheduled for these dates. For scalping, you need a time frame that can be broken down into smaller sections, for example, a five-minute time frame. When it comes to the worst times of day to enter the foreign exchange markets, this is basically any time of the day when the markets are calm and moderate.
This is because you often see some decent price movements during the first hour of trading, as the overall trend for the day starts to set in. Generally speaking, the time frame for scalping is short-term and is mainly used for intraday trading. Many resellers only trade for a certain period each day and usually choose a specific time when their favorite pairs are most volatile. Although the foreign exchange market is a global market open 24 hours a day during the work week, liquidity is highest between these two sessions.
You can trade in different time frames depending on your preferences, but scalping strategies are usually short-term and high-frequency. Although scalping is a relatively simple method of short-term trading, it can sometimes be confusing for novice traders. The truth is that I'm no longer involved in the markets, but there are definitely some periods of the day that are more profitable than others. If the price of a particular currency is trading sideways and barely moving, this is obviously not a good time to invest in the markets.
When trading cryptocurrencies, traders often look at a specific time frame or time window in the market, depending on their preferences. While some resellers would prefer a 15-minute time frame, others might use a 1-minute chart with a 5-minute time frame.
